Café France net income jumps by 38% to P8.7M
Café France Corp., a fully-owned subsidiary of the Yap family’s Euro-Med Laboratories Inc., reported a 38-percent jump in its net income last year to P8.7 million from P6.3 million in 2015.
Café France was set up in 2010 to operate restaurants and bakeries as well as catering and other food production.
According to Euro-Med Laboratories’ disclosure, Café France grew its revenues by a 1.7 percent to P1.12 billion with its expenses growing by 2.6 percent to P1.096 billion.
The company said purchasing perishable raw materials is a challenge because it is susceptible to price fluctuations and that it bit the bullet by purchasing raw materials at even high prices to keep its customers. The company said its strategy now is to go directly to the source of its raw materials to save on middle-men costs and to look for substitute raw materials without compromising flavour and quality. It is also accrediting and maintaining more suppliers and locking them in for a quarter to manage the cost volatility and reasonably predict and ensure margins.
Euro Med Laboratories expects to increase its sales by 16 percent this year from its own export and local sales as well as an increase in the sales of Café France and Hemotek Renal Center Inc.