RFM full-year profit jumps 12% to P1.4B
RFM Corp. saw its net income last year jump by 12 percent to P1.4 billion on the back of gains across its segments.
However, the Concepcion family-led company expects growth this year to ease down to the single-digit zone.
The food and beverage manufacturer disclosed to the stock exchange on Thursday that its revenues also rose by 5 percent to P21.7 billion.
Strength in its pasta, milk and flour segments as well as Unilever-RFM Ice Cream Inc., its joint venture with the consumer goods giant, helped propel net profit.
The ice cream joint venture, which was formed in 1999, currently manufactures and sells Selecta, Cornetto and Magnum brands.
Unilever in 2024 announced plans to separate its global ice cream business from its other units, including beauty, home care and food products.
“As a standalone, more focused business, [the] ice cream [segment’s] management team will have operational and financial flexibility to grow its business, allocate capital and resources in support of the company’s distinct strategy,” RFM CEO Jose Ma. Concepcion III said.
Concepcion added that the separation would be fully realized within this year.
Payout in May
In 2024, RFM completed its new bakery plant in Silang, Cavite province, as well as new Selecta milk lines
Considering the company’s earnings results from last year, RFM’s board of directors approved P200 million in cash dividends, equivalent to P0.05936 or almost 6 centavos per share.
This will be paid out on May 26 to stockholders of record as of April 29.
Also, RFM in 2024 declared a total of P1.3 billion in cash dividends, up from P850 million in 2023.
According to RFM, last year’s growth spilled over to this year’s first-quarter performance.
In the January to March 2025 period, RFM said its net income had surged by 53 percent to P309 million versus the same period last year
Sales likewise rose by 3 percent to P4.5 billion.
For the full year, RFM anticipates mid to high single-digit growth both in its top line and bottom line.
