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(07-12-2011, 11:23 AM)Ruach Wrote: [ -> ]RFM correcting currently from its rally...Old buyers are watching from the sidelines...
I saw you tooo.....Smile....Heart
ipitski dito.. Confused 1.26
Yey, pumasok na SFIP property dividends ko sa COL! Sis Ruach, na-credit na yung sayo? Smile
mga boss share ko lang Smile

[Image: rfm07122011.png]

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good morning mga boss Smile update ko lang

[Image: rfm07212011.png]
^ thanks for this rider
Commodity price hikes to cut RFM net income

RFM CORP. expects profits to decline from 2010 levels as projections of higher sales will be offset by high commodity costs, officials of the food and beverage firm said late last week.
“[Sales] will be higher. But it will be our profit that will be affected,” Jose A. Concepcion III, president and chief executive of RFM, said in an interview.

“It will be lower than last year for sure,” he said of the profits. In 2010, earnings of RFM surged by 71% to a record P625 million from P365 million in the previous year while net sales rose by 6% to P8.8 billion.

But Mr. Concepcion refused to elaborate on the projected decline in net income and the increase in sales.

The new forecast of the Concepcion-led manufacturer of Fiesta pasta, Selecta ice cream and Swift hotdogs runs counter to its more upbeat outlook earlier when it was looking to grow sales by 15% and profits by 20% for 2011 to around P10 billion and P750 million, respectively.

But in the first quarter, RFM saw profits fall by 27% to P100 million due to weaker consumption and higher commodity prices. Sales flattened growing by only 1% to P1.98 billion in the first quarter.

“In the second quarter, we were hit more [by high commodity prices].

It is at its full impact,” Mr. Concepcion said.

“We are redoing the numbers... Right now, we are assessing where we stand and what is doable for the year,” RFM Vice-President Ramon M. Lopez said in an interview.

The officials said prices of inputs like oil, sugar and milk have surged in the first half but costs should have been easing by this month.

In the meantime, Mr. Lopez said the company is implementing cost management and efficiency improvement programs after implementing a 3%-5% price hike early this year.

Moving forward, growth will be driven by its core brands that experience high demand.

“Our ice cream business is doing very well and the pasta business is growing,” Mr. Concepcion said.

Mr. Lopez said Selecta ice cream, a joint venture with Anglo-Dutch consumer goods giant Unilever, already corners 70% of the market from 66% early this year while flour-based businesses led by White King Fiesta controls around 30% of the spaghetti pasta category.

Share prices of RFM fell by 1.5% to P1.32 apiece yesterday.

buy ngaun. smile bukas
holding on to RFM.......
cutloss .97 kapg hndi pa din tumigil. best buy sa 1
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