RFM posts 7% jump in first-quarter profit

RFM Corp. grew its earnings by 7% in the first quarter of 2018, boosted by higher sales from its ice cream, pasta, flour, and milk products.
In a statement issued Thursday, the listed firm said it booked P211 million in the January to March period, higher than the P198 million it generated in the same period a year ago.
This followed a 10% increase in revenues to P2.8 billion, with the company noting a topline growth across both its branded consumer and commodities segments.
“For 2018, we expect to sustain this strong first quarter momentum with the recent launch of our Selecta Fortified Milk TV campaign and upcoming marketing initiatives for our pasta, sauce and ice cream, over the course of 2018,” RFM President and Chief Executive Officer Jose A. Concepcion III said in a statement. — Arra B. Francia