San Miguel Pure Foods'
profits up 4% to P99.8B

San Miguel Pure Foods Company Inc., the food subsidiary of diversified conglomerate San Miguel Corp., on Wednesday said its revenues grew four percent last year, driven by the strong performance of its core brands.

In a disclosure to the Philippine Stock Exchange, SMPFC said its consolidated revenue reached P99.8 billion from P95.8 billion in 2012.

“Our focus for the Food Group will be to strengthen existing businesses in core segments like the branded business, and drive even higher levels of value-added innovation across each of our product categories,” said Vice Chairman for SMPFC Ramon S. Ang.

The feeds business last year grew its revenue by three percent due to higher selling prices as a result of better sales mix.

The poultry and fresh meats business posted a combined volume and revenue growth of four percent and five percent, respectively.

The flour business remained a major contributor to SMPFC's performance. Revenues grew four percent due to better sales volume.

Sales revenues of the branded value-added businesses grew eight percent, driven by the strong sales performance of the company's core brands such as Purefoods, Star, Magnolia and San Mig Coffee.

“New product launches and sustained advertising and promotional activities also contributed to growth. These, coupled with breaks in dairy raw material prices translated to a 10-percent increase in operating income,” the company said.

In 2013, the company inaugurated its state-of-the-art grain terminal that can accommodate large Panamax vessels. This will allow the company to enjoy lower freight costs and terminal fees.*PNA

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Puregold posts
46% revenue rise

The profit of Philippine supermarket chain Puregold Price Club, Inc. grew by 46 percent in 2013, bolstered by the huge sales turnover of Puregold and S&R stores.

In a disclosure to the Philippine Stock Exchange, Puregold said it booked a net income of P3.96 billion compared to P2.72 billion in 2012.

It posted consolidated net sales of P73.18 billion, an increase of 27 percent compared to P57.47 billion the previous year.

Puregold ended 2013 with a consolidated store count of 213 Puregold and S&R stores in operations, including one in Bacolod City.

New 40 Puregold and two S&R stores opened last year and the 15 Company E stores acquired in first quarter of 2013.

As of 2012, there were 150 Puregold and six S&R stores operating.*PNA

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