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Listed food and beverage company RFM Corporation disclosed that unaudited first quarter 2019 financial performance indicate RFM’s net sales reached P3.1B, an 11% growth versus last year. RFM President and CEO Jose Ma. A. Concepcion III said that revenue growth drivers were institutional sales of flour and bread, pasta and sauce, as well as milk.  “We continue to see healthy consumer appetite for our Royal and Fiesta pasta and sauce as well as in our Selecta Milk RTD for the first three months of the year. The late holy week in April this 2019, compared to March in 2018, softened our ice cream unit’s usual strong growth rate in the first quarter, but April sales are quite robust. Flour and institutional bread sales are growing at double digit rates as well.” Concepcion, also noted that the 2019 benign monthly inflation rates boded well for sustained consumer expenditure that should also see a boost from mid-term election spending. On the cost side, Conc...

RFM President and CEO Jose Ma. A. Concepcion III reported a 12% growth of revenues for the first six months of 2018 for the Company which resulted in a 3% rise in net income. Sales of the food and beverage company for the period grew from P5.7B to P6.3B pushing the RFM’s net income to P525M from P508M. The company posted topline growth in most businesses including ice cream, flour, pasta, milk and private label. First Half revenues of the ice cream category leader Selecta grew 11% year on year while institutional sales including the bakery business expanded with an 8% increase. Sales of RFM’s other flagship brands -  Fiesta pasta, Royal pasta, White King mixes and Selecta Milk - also posted a strong 17% expansion for the six-month period. Concepcion noted that “the healthy growth of the branded consumer businesses brought about a 3% growth in net income to P525M, despite the headwinds from softening prices of flour and the rise in commodity prices such as wh...