Axelum brushes off global uncertainty
Coconut products maker Axelum Resources Corp. shrugged off global trade concerns despite its exposure to the US market, banking on strong global demand to sustain its earnings.
“For first quarter, we managed to outperform despite prevailing nut supply constraints, which is expected to improve by the second half,” Axelum president and COO Henry Raperoga said in a statement on Thursday.
In the January to March period, Axelum netted P138 million, a 29-percent surge on the back of higher volume and selling prices across its product categories.
The Manuel Pangilinan-led company said it had generated P2.2 billion in sales, up by 38 percent.
Desiccated coconut, coconut water and coconut milk collectively accounted for 74 percent of the total top line.
The United States remained its largest export base, with the US seeing a 41-percent surge in sales.
