Vitarich Corp., a major feed and poultry producer, reported an increase in first-quarter net income to P241.6 million, soaring 389 times from P6.22 million in the same period last year. The surge highlights the company’s resilience and strategic agility amid market supply disruptions.
Revenue rose 9 percent year-on-year to P3.19 billion, supported by higher national pricing for chicken products and the introduction of a new income stream from day-old pullets. CEO Rocco Sarmiento said that while feed sales were dampened by reduced supply of day-old chicks, the overall performance “reinforces our confidence in navigating an evolving macroeconomic environment.”
The food division led growth, with revenue jumping 27 percent to P2.22 billion and accounting for 63 percent of total revenue—up from 59 percent last year—despite volume challenges. In contrast, feed revenue declined 4 percent to P1.01 billion, reflecting lower prices and stagnant volumes, reducing its revenue share to 28 percent from 36 percent.
Vitarich’s farms division more than doubled its revenue to P301.7 million, boosted by improved fair value gains on biological assets and the debut of day-old pullets from NOVOgen, a French genetic specialist. The division now contributes 8 percent to total revenue, up from 4 percent.
Looking ahead, Sarmiento said the company plans increased capital expenditures tied to poultry house expansion and has scheduled new breeder orders for 2Q and 3Q to mitigate chick supply shortages. These moves align with Vitarich’s long-term strategy to diversify revenue streams and fortify growth.
