Pepsi-Cola Products Philippines Inc. (PCPPI), the Philippine bottler of global food and beverage firm PepsiCo Inc., saw its first half net income grow by 17 percent year-on-year to P560 million from P479 million on the back of higher sales.
The local bottler’s gross revenues likewise climbed 9 percent to P16 billion from P14.5 billion a year earlier on strong growth across its product offerings. For the second quarter alone, the company recorded a 7-percent increase to P368 million from P344 million the same time last year.
“We are pleased by our performance in the first half. The solid results have been made possible through gains in distribution, prudent revenue management, accelerated productivity and leverage on fixed costs. The creative excellence and uncontainable passion of our team continues to make a difference to our business performance,” said PCPPI President Furqan Ahmed Syed.
PCPPI’s cost of goods sold also rose by 9 percent for the six-month period and 7 percent for the quarter due to the volume growth and higher depreciation and amortization from increased capital spending investments.
Last May, the company announced that it would make and distribute a range of PepsiCo’s popular snack products and flavors to the Philippines. PCPPI said this move is expected to take effect in manufacturing operations by the latter part of the year.
PepsiCo’s well-known snack food brands include Cheetos, Lays, Ruffles, Tostitos, Doritos, Fritos and Walkers.
“With the continued strength of our business results, we remain committed to making an impact in the communities where we are present – through the Pepsigla School Nutrition Program, and the Liter of Light Project of MyShelter Foundation and Pepsi,” Jika Dalupan, PCPPI vice president for Corporate Affairs and Communications, said.
Incorporated in 1989, PCPPI is engaged in manufacturing, sale and distribution of carbonated and non-carbonated beverages of brands such as Pepsi-Cola, 7Up, Mountain Dew, Mirinda, Mug, Gatorade, Lipton, Tropicana/Twister, Propel and Sting.