14 November 2016 (Manila) – Pepsi-Cola Products Philippines Inc. (PCPPI) continues to deliver strong results by riding on its sustained growth momentum. Sales revenues reaching Php 26.8 billion for the nine-month period, representing year-on-year growth of 13%. For the third quarter alone, the company achieved sales revenues of Php 8.7 billion translating to a growth of 14% versus same period last year. Revenue growth continued to outpace volume growth spurred by a strong focus on new product initiatives and revenue management.

“We are delighted by the fantastic results achieved in third quarter. This is another show of confidence by our consumers on our world class product portfolio. Our consumers loved product innovations and campaigns such as Mountain Dew’s “Dewmocracy”, Lipton’s “Positivitea” and Tropicana’s “Straight to the Good Stuff”, stated PCPPI President Furqan Ahmed Syed.

Cost of goods sold rose 15% for the nine-month period and up 14% in the third quarter driven primarily by sharp increase in sugar prices. However, improved productivity particularly related to line efficiencies, value engineering and water/ energy conservation initiatives helped in mitigating the effects of higher sugar prices. This resulted to an over-all net income of Php 0.7 billion over the nine-month period and Php 0.2 billion in the third quarter, or +5% and +23%, respectively. Net of Snacks business start-up losses, net income stands at Php 0.8 billion over the nine-month period and Php 0.2 billion in the third quarter, equating to a +14% and +42% growth vs YAGO, respectively.

The company also demonstrated a strong leverage of Operating expenses, which grew much lower than topline at +7% on a year-to-date basis and +8% in the third quarter.
“We strongly believe in the future potential of Philippines as a country and our bond with the Filipino people keeps getting stronger with every passing day. We have evolved a compelling 10 year vision for the business and we will continue to transform PCPPI into a world class Food and Beverage organisation of the future”, Syed added.

Pepsi Philippines recently launched the “Give the Gift of Light this Christmas” campaign in line with its globally acclaimed Liter of Light program. For every Pepsi sold, the company will donate solar light bulbs to energy-deprived areas in the country.