Listed beverage firm Pepsi-Cola Products Philippines Inc. (PCPPI) reported a 41-percent surge in its first quarter net income to P192 million from P136 million for the same period last year as a result of strong sales.
“This strong top-line performance was supported by the company’s sustained and prudent investments in manufacturing, marketing and distribution assets,” PCPPI President Furqan Ahmed Syed said.
“Our business progress is in line with our plans and we look forward to a sustained growth for the future,” he said in a statement.
The company’s total revenue also increased by 13.5 percent to P7.3 billion in 2014 from P5.48 billion a year ago, which brought gross sales margin up by 170 basis points.
Cost of goods sold rose by 12 percent in the first three months of the year on volume growth, higher depreciation and amortization.
The company recently declared a cash dividend of P0.066 per share, which will be recorded on May 12 and payable by June 5. The cash dividends will total to P243.8 million, which is equivalent to 30 percent of its net income after tax last year.
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.
South Korean beverage giant Lotte Chilsung Beverage Co. Ltd.