Vitarich Corp., a leading poultry integrator and manufacturer of animal feeds and food products, saw net profit in the nine months through September surge as efforts to trim costs more than made up for the decline in revenue during the period.
Vitarich posted net income in the January-September period quadrupled to P286.3 million even as revenue declined 4.3 percent to P9.22 billion due to ongoing adjustments in the feeds segment. Cost and expenses declined 7 percent to P8.86 billion on account of reductions in raw materials by approximately 9 percent and the continued efficiencies at its farms.
“We delivered our strongest nine-month results, demonstrating how our strategy execution is improving the profitability and financial position of the company,” said Rocco Sarmiento, Vitarich’s chief executive officer.
“We continued to invest for the long term in brand-building capabilities, facilities, and digital initiatives. By focusing on modern trade and Hotel, Restaurant, and Institutional customers, we have driven sustainable growth in both the top- and bottom-line,” he added.
Vitarich’s Cook’s brand, now available in 358 stores in Luzon, was also highlighted as a key growth driver.
The company’s operating profit more than tripled to ₱365.1 million, with operating costs maintained at just 7.8 percent of revenues. Additionally, Vitarich recognized other operating income, which further boosted its earnings.
