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Thursday, March 28, 2024

Pepsi’s net profit up by 5% to P812m

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Softdrinks maker Pepsi-Cola Products Philippines Inc. said net income rose 5 percent last year to P853 million from P812 million in 2015, on higher sales of beverages and snacks.

PCPPI said in a financial report filed with the stock exchange gross revenues jumped 11 percent to P35.7 billion from P32.07 billion a year earlier, on strong focus on revenue management and new product initiatives.

Revenues amounted to P9.1 billion in the fourth quarter, up by 8 percent from a year ago.

Sales of carbonated drinks rose 10 percent to P22 billion from P20 billion in 2015, while sales of non-carbonated drinks went up 12.5 percent to P8.1 billion from P7.2 billion.

Revenues from snack business surged to P159 million from P4 million in 2015, as the company continued to expand the footprint of its snacks portfolio by growing its distribution footprint to entire Luzon.

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It was only in the latter part of 2015 when PCPPI started manufacturing snacks in its facility in Laguna.

The move to expand into snack food manufacturing was in line with its goal to become a premier food and beverage company in the Philippines.

Full-year cost of goods sold rose 12 percent, driven primarily by sharp increase in sugar prices. 

Operating expenses rose 8 percent in 2016 and 12 percent in the fourth quarter.

PCPPI spent P3.7 billion for capital expenditures in 2016 primarily to drive distribution and marketing expansion and acquire manufacturing assets to build capability.

PCPPI is a licensed bottler of PepsiCo Inc., Pepsi Lipton International Limited and a licensed snacks appointee of The Concentrate Manufacturing Company of Ireland in the Philippines. 

Among its brands are Pepsi-Cola, 7Up, Mountain Dew, Mirinda, Mug, Gatorade, Tropicana/Twister, Lipton, Sting, Propel, Milkis, Premier, Let’s Be, Lay’s and Cheetos.

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