RFM affirms P1-B profit target this yr

PASTA and ice cream maker RFM Corp. said it is positive about hitting the P1-billion profit target this year, banking on higher private consumption in the runup to the 2016 elections.

“We feel that in the next six months, our sales are going to be strong. Next year is an election year, so we see a lot of spending in Christmas. We are very bullish in the next six months as pasta, ice cream and milk will benefit from the election. We hope to reach P1 billion profit this year,” Jose Ma. Concepcion 3rd, RFM president and chief executive, said during the firm’s annual stockholders’ meeting (ASM) on Thursday.