Friday, 14 August 2009

Alaska Milk earns P622 M in H1, up 230%

JAMES LOYOLA
Manila Bulletin
http://mb.com.ph/node/215569/ala

Alaska Milk Corporation reported that its net income for the first half of 2009 surged 230 percent to P622 million from the P188 million registered in the same period last year.

The firm said in a disclosure to the Philippine Stock Exchange that stronger volume sales fueled revenue growth year-on-year as domestic consumption remained resilient despite a slower economic growth.

With costs of major raw and packaging materials off from their peak levels in 2008, operating margin for the first six months of the year more than doubled to 14.0 percent from 6.6 percent a year ago.

Alaska said off-take of its core milk products remained brisk during the second quarter, with revenues up 5 percent at P2.69 billion from P2.55 billion in the same period last year This brought revenues for the first half of the year to P5.35 billion, 14 percent higher than year-ago revenues of P4.694 billion.

Combined sales volume of the liquid canned milk business expanded during a seasonally strong second quarter.

Sales volume of the Alaska’s portfolio of economy brands remained strong, reflective of a general trend in shift in demand to lower-priced consumer products.

Affordability has also improved with the company’s price roll-back for selected liquid canned milk brands which drove consumption higher.

Sales volume of Alaska Powdered Filled Milk (APFM) grew at double-digit rates, given the company’s heightened advertising and promotional activities behind the brand. Combined sales volume of the UHT business, on the other hand, was stable.

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