CONSUMER goods maker Mega Global Corp. projects a slower growth for this year after posting “phenomenal sales” last year, company officials said on Thursday.
Marvin Tiu Lim, Mega Global chief growth and development officer, said that the company might not be able to replicate its performance last year. He did not disclose specific figures.
“Last year, it was phenomenal sales for our company, as you know with all the local government units ordering for ayuda (aid). Our sales more than doubled in some months last year. This year, I do not think we will be able to reach that,” Mr. Lim during the virtual launch of the company’s Mega Bigay Sustansya nutrition program.
“Reports showed that the total fast-moving consumer goods market is down. However, we are trying to harness other products such as our new corn sardines and our canned tuna line that can hopefully fill in the gaps of what we are going to lose in sardine sales versus last year,” he added.
Mr. Lim also disclosed that Mega Global is seeking a five percent price increase for its products due to higher costs of raw materials used in production.
He said tin cans currently cost a peso more, translating to a big increase in production expense.
“We are seeking a five percent adjustment towards our prices, which will hopefully get approved, because we have 4,000 employees to feed as well. As much as we do not want to increase prices for the Filipinos, we have to maintain job security in our company and maintain the innovation, the growth that we have internally,” Mr. Lim said.
Michelle Tiu Lim Chan, Mega Global chief operating officer, said the company will be launching a fresh frozen fish line featuring galunggong (round scad) and matang-baka (big-eyed scad), which she hopes will be one of the company’s growth drivers for the year.
She added that the company is building its first plant in Luzon, located in Sto. Tomas, Batangas, which will soon offer a variety of new products to consumers.
Mega Global’s Mega Bigay Sustansya program, which is on its third straight year, is in partnership with the Reach Out Feed Philippines.
“The program aims to support 870 children from various barangays across six provinces through a 60-day nutrition program. These include Batangas, Navotas, Valenzuela, Samar, Surigao del Sur, and Zamboanga,” Mega Global said.
“Beneficiaries are children aged 4-12 years old, who will receive two nutritious meals daily for 60 days. The daily meals will include at least one sardines meal, made using Mega Global’s vitamin and nutrient packed high-quality sardines,” the company added. — Revin Mikhael D. Ochave