Corporate News

Calata earnings jump 27% in April-June

Posted on August 18, 2016

STRONGER sales drove Calata Corp.’s net profit 27% higher in the second quarter, according to its regulatory filing. Calata said it booked a P38.4-million profit in the April to June period, from P30.2 million during the same period last year. This brought the six-month net income to P99.99 million, a 51% year-on-year increase from P66.2 million.

“This is mainly due to the improvement of the Company’s sales mix in favor of higher margin products most of which are the Company’s own brands like the Agri brand of generic agro-chemicals and Golden Bean brand of animal feeds,” the company said.

Revenues reached P652.71 million in the Aprill to June period, a 15% rise from P564.79 million recorded a year ago.

For the six-month period, revenues went up 17% to P1.25 billion, from P1.07 billion a year ago, as the company’s expanded market led to higher sales.

Calata said its recent operations in Visayas and Mindanao showed strong sales potential since “agricultural products is underserved” in both regions. It also established new “AGRI” retail stores in Luzon. -- Monica M. Hernandez