Pepsi-Cola Products Philippines, Inc. (PCPPI) exhibited strong top-line and bottom-line growth during the first half of 2015. Gross sales revenue increased by 9% for the six-month period and 5% for the second quarter, reaching P16 billion year-to-date, with growth evident across all major product categories.
Net income for the six-month period is P560 million and P368 million for the quarter, which is 17% and 7% respectively higher compared to the same period 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”, stated PCPPI President Furqan Ahmed Syed.
Cost of goods sold increased by 9% for the six-month period and 7% for the quarter, driven by volume growth and higher depreciation and amortization from increased capex investments. The company achieved a gross profit P3.4 billion during the six-month period and of P1.8 billion for the quarter, increasing by 9.6% and 0.7% respectively versus the same period last year. Operating expenses increased by 7.2% for six month period and decreased by 0.3% for the quarter versus year ago
PCPPI announced last May that it will make and distribute a range of PepsiCo's popular snack products and flavors to the Philippines' 100 million consumers. The company is expected to commence manufacturing later this year.
“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” shared Jika Dalupan, PCPPI Vice President for Corporate Affairs and Communications.