Purefoods’ net income hits nearly P7B
San Miguel Pure Foods Company Inc. netted almost P7 billion in 2017 on the back of higher volumes from its poultry, fresh meat and processed food businesses.
A disclosure in the Philippine Stock Exchange showed that Purefoods increased its income by 16 percent to P6.9 billion, while its consolidated operating income improved by 11 percent to P9.9 billion.
Meanwhile, the firm’s consolidated revenues stood at P117 billion, which was 5 percent higher from what it had in the same period last year.
This, after its combined revenues from the feeds, poultry and fresh meat improved by 6 percent on better sales mix and favorable prices of chicken and fresh meat.
“We’re very much encouraged by the positive response that our new products have received from consumers,” said Ramon S. Ang, president of Purefoods’ parent conglomerate San Miguel Corp.
“Moving forward, as we strive to further strengthen our market leadership, we will continue to grow our product offerings,” he added.