CDO eyes strong sales amid increased in production cost
Food manufacturing firm Foodsphere, Inc. (CDO) said it is still expecting strong sales for this year despite a possibly higher production cost amid the weakening peso.
This, according to a company official, will be supported by strong demand for hams and cheese products during the Christmas season.
“In the midst of a challenging business environment, our company managed to grow at double digits and we expect to end 2017 with a 12 percent growth year-on-year. This is almost double the country’s GDP growth of about 6.8 percent,” said Foodsphere President Jerome D. Ong.
“This Christmas season, we see higher demand for our hotdogs, cheese balls, sweet preserves and especially our Christmas Hams because of all the holiday festivities, both at home and out-of-home,” he added.
Ong said that for this month, the overall outlook for meat demand remains positive, which will also be supported by the rising purchasing power of Filipinos.
“Over the years, we have built very good relationship with the supermarket chains, with our network of distributors, our foodservice accounts, our banking and supplier partners–all of who are instrumental in our continued growth,” Ong further said.