RFM Corp.’s bottom line up 6% in 2017

Food and beverage maker RFM Corp. reported a 6-percent increase in bottom line last year, driven by growth in its branded businesses.

In a regulatory filing submitted on Monday by RFM head of Corporate Legal and Labor Relations Jufil Siquian, the company said its net income rose by 6 percent to P1.064 billion on the back of P12.7 billion in sales revenue.

The company has yet to disclose its comprehensive fourth quarter and full-year income for 2017.

Selecta ice cream and Fiesta pasta drove RFM’s branded businesses higher, the company said.

“For 2018, we see sustained growth in our ice cream and faster growth in the pasta business. We also plan to push our RTD milk lines for faster growth this year,"” RFM president and CEO Jose Concepcion III said.

“RFM sees continued consumer consumption growth in the coming years and we are investing already to be able to take full advantage of that growth,” he said.

RFM has four subsidiaries under its food business—Interbake Commissary Corporation, RFM Foods Philippines Corporation, Southstar Bottled Water Company Inc., and FWBC Holdings Inc.

It has two joint venture firms: Unilever RFM Ice Cream Inc. and Engrain-RFM Pacific Inc.

The company’s business portfolio also includes non-food concerns such as RFM Equities Inc., Rizal Lighterage Corporation, Cabuyao Logistics and Industrial Center Inc., WS Holdings Inc., Selecta Wall’s Land Corporation, and Invest Asia Corporation. —Jon Viktor Cabuenas/VDS, GMA News