Splash Corp. said domestic sales of personal care products increased 7 percent while sales of food, mainly due to Barrio Fiesta products, rose 6 percent in the first half from a year ago.
Splash, the top homegrown personal care product company, said it continued to outpace the sales growth of the industry as a whole, growing almost four times faster than industry which saw a 2-percent growth.
“The strong Philippine performance of our two major product families validates the strategies we have put in place for Splash: focus on innovation, research and development; aggressive marketing from our deep understanding of the Philippine consumer; and efficient backroom processes like manufacturing and distribution,” said Splash president and chief operating officer Vicci Tomas.
The revenue growth in the Philippines was tempered by the decline in revenue from direct sales, after Splash changed its business model early this year. The successful transformation of the business model resulted in wider coverage and lower costs for Splash’s direct sales business.
The revenue growth in personal care was driven mostly by the introduction of innovative new products in the Philippine market that gained quick acceptance from consumers.