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Article: Higher demand, lower costs bolster Alaska's finances
- Article from:
- The Manila Times
- Article date:
- August 13, 2009
- Author:
CopyrightCopyright Content Parnership Pty Ltd Aug 13, 2009. Provided by ProQuest LLC. (Hide copyright information)
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Alaska Milk Corp. announced Wednesday that its profit for the first half of the year surged due to higher consumption and lower price of raw materials.
In a statement, the company said its net income in January to June this year more than doubled to P622 million from P188 million in the same period last year.
"Stronger volume sales fueled revenue growth year-on-year as domestic consumption remained resilient despite a slower economic growth," Alaska said.
As the cost of major raw and packaging materials dropped from their peak levels last year, the company's operating margin for the first six months more than doubled to 14 percent from 6.6 percent a year ago.
At end-June, revenues ...