Manila, Philippines – Pepsi-Cola Products Philippines, Inc. (PCPPI) powered through the third quarter of the year by posting volume growth at 17% compared to the same period last year and at 12% for the nine-month period this year. Fuelled by strong demand across major categories and geographies, gross sales was up by 19% for the quarter due to combination of volume and revenue initiatives and 13% for the nine-month period, reaching Php 22 billion.
“Sustained investments in manufacturing, marketing & distribution assets, paved the way for the company’s topline performance”, stated Jika Dalupan, PCPPI VP for Corporate Affairs and Communications. Gross profit was up by 17% for the quarter and 4% for the nine-month period, amounting to Php 4.6 billion. Operating expenses as a % of net sales were at par with year-ago level for the nine-month period.
“We are pleased to have sustained our strong growth momentum in Quarter 3. This was achieved by bringing in more exciting consumer offerings for our Filipino consumers, building our distribution footprint and sustaining our investments in operating capability development”, stated Furqan Ahmed Syed, PCPPI President. Net income for the quarter grew by 13% to Php 139 million, coming from a strong topline growth. However, net income for the nine-month period is still behind year-ago level as a result of higher depreciation/amortization and damages caused by Typhoon Yolanda.
“We are proud to have been part of the Tanauan rehabilitation and rebuilding process. Our plant Operations in Tanauan are fast coming back to normal. As a responsible corporate entity it is our resolve that we will continue to refresh Filipino consumers while giving back to the communities that we operate in via our CSR program “Tayo Na”, Syed added.
PCPPI inaugurated its 12th manufacturing facility last October in Santo Tomas, Batangas. Spanning over seven hectares, the facility is initially operating 2 bottling lines, serving over 40,000 outlets in the Southern Tagalog Region.
“Our new plant represents our renewed commitment in bringing everyday refreshment to the people of the Calabarzon and Mimaropa region. We are excited about the employment and livelihood opportunities that this expansion will bring to local communities,” Dalupan shared. An estimated Php 1.1B was invested to build the plant.