RFM Corp. registered an attributable net income of P256 million in the third quarter, up by 1.6% from P252 million last year, after booking higher revenues.
The company’s topline reached P4.94 billion in the quarter, climbing 15.4% from the P4.28 billion recorded revenues a year ago.
“All segments contributed to the growth with the improvement in selling prices and some in combination with higher volume,” the company said in its quarterly financial report on Thursday.
During the quarter, the company’s gross profit amounted to P1.59 billion from P1.57 billion last year.
RFM’s direct costs and expenses were higher by 23.9% at P3.36 billion in the three months that ended September, from P2.71 billion in the previous year.
The company’s selling and marketing expenses climbed by 3.1% to P993 million, while its general expenses added 20.4% to P235 million.
In the nine months through September, the company’s attributable net income totaled P944 million, a 0.4% jump from P940 million a year ago.
Its topline grew to P13.41 billion during the three quarters, a 16.5% climb from P11.51 billion in the previous year. It also pushed higher RFM’s year-to-date net income.
“[The revenue] is equivalent to a 17% growth over its revenues posted in the same period last year,” the company said.
Year-to-date direct costs and expenses were recorded higher at P8.92 billion, a 23.5% climb from P7.22 billion last year.
RFM is a manufacturer of wheat, flour and flour products, pasta, milk, juices, and margarine, among others.
On the stock market on Thursday, shares in RFM climbed by four centavos or 1.06% to P3.80 apiece. — Justine Irish D. Tabile
