MACAY Holdings Inc., the listed firm of former ambassador Alfredo Yao, saw a 13.4-percent increase in net income in the first six months of 2015, reaching the P1-billion mark on the back of strong sales of flavored carbonated soft drinks.
In its quarterly report, the company said its first half net income increased by 13.4 percent to P1 billion from P882.1 million a year earlier.
Revenues grew by 12.4 percent to P5.8 billion from P5.16 billion the same comparable period.
“This is primarily due to an increase in our sales volume and an increase in the average selling prices of our products,” Macay said.
Sales volume rose by 9.3 percent to 84.3 million bottled soft drink cases from 77.1 million cases.
“This was driven by continued national and local sales and marketing initiatives and, in particular, by an increase in demand for our flavored carbonated soft drinks,” the company said.
The company noted that it also benefitted from the price increases of cola products bottled flavored drinks during the second quarter of 2015, which led to a 2.9-percent increase in the average selling price.
Cost of sales and services reached P3.7 billion, up 9.6 percent from P3.3 billion.
In April, the company moved to buy the owner and operator of the RC Cola brand ARC Holdings Inc. As a result, Macay absorbed 100 percent of ARC and transformed the corporate relationship from a joint venture.