Manila, April 15 – 2013 was another banner year for Pepsi-Cola Products Philippines, Inc. (PCPPI) as it achieved high double-digit growth, over lapping two strong consecutive years. The company’s gross sales revenue reached P26.4 billion, an increase of 16% from 2012, fuelled by high volume growth from both the carbonated and non-carbonated beverages segments. Sales volume grew at 20% versus the previous year.
“Our focus on increasing our distribution across the country has been a key driver of our top-line growth. As such, we are pleased to have outperformed industry growth for another consecutive year”, outgoing PCPPI President Partho Chakrabarti said.
Cost of sales, mainly driven by volume growth, increased by 16% in 2013. It consists predominantly of raw and packaging materials and remained at 73% of net sales, as the cost of inputs was largely stable for the year.
As a result, the PCPPI’s gross profit for the year reached P6.0 billion, representing a growth of 13% over 2012. “This achievement is commendable considering intense competition and the challenges brought about by Typhoon Yolanda. We experienced some setbacks since our plant in Tanauan was badly affected”, shared Jika Dalupan, PCPPI VP for Corporate Affairs and Communications.
Operating expenses, despite the high capital expenditures, remained manageable. Expressed as a percentage to net sales, operating expenses stayed the same as last year’s level of 21%.
Considering the high volume growth, stable cost of inputs and manageable operating expenses, PCPPI was able to reach a net income of P903.5 million, reflecting an increase of 6% over 2012.
PCPPI also recently announced the appointment of Furqan Ahmed Syed as President and member of the Board of Directors effective 1st of April 2014. He replaces Partho Chakrabarti who has been appointed to the role of VP and COO Foods in PepsiCo India.
GMA News Network
Manila Standard Today
Philippine Daily Inquirer