RFM Q3 net profit P20M vs yr-ago P50M

Food and beverage firm RFM Corp. on Wednesday said its third-quarter net profit fell 60 percent from a year earlier, after a fierce storm during the period impaired power needed for its cold storage of meat and ice-cream products. In a statement, RFM said it had a third-quarter profit of P20 million versus P50 million a year earlier. During the quarter, consolidated net sales decreased 11.60 percent to P1.34 billion. For the nine months, RFM said net profit grew 69 percent year-on-year to P115 million. - Patricia de Leon, GMANews.TV