Pepsi Cola Products Philippines Inc., the country's lone listed soda bottler, on May 14 said its unaudited profits fell for the first nine months of fiscal year 2008 ending in March as revenues from its soft drink products declined in the third quarter. In the first quarter of 2008 revenues declined by 1.7 percent to P3.6 billion due to weak carbonated soft drink volumes and lower pricing forced by stiff competition. Noncarbonated beverage revenues however climbed by 24 percent due to increased volume. Net income for the first quarter declined by 6 percent to P217.8 million as the company's gross profit rate fell 2 percentage points due to lower pricing. Operating expenses declined by 7 percent due to a 45-percent drop in marketing expenses. Year-to-date marketing expenses however surged 51 percent.
in Manila Times by Likha C. Cuevas-Miel
May 15, 2008
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