Pepsi-Cola Products Philippines Inc. said its first-quarter normalized net income came to 5 Philippine centavos per share, an increase of 44.2% from 3 centavos per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 172.9 million pesos, a gain of 44.2% from 119.9 million pesos in the year-earlier period.
The normalized profit margin climbed to 2.8% from 2.2% in the year-earlier period.
Total revenue rose 14.1% on an annual basis to 6.26 billion pesos from 5.49 billion pesos, and total operating expenses grew 12.6% on an annual basis to 5.96 billion pesos from 5.30 billion pesos.
Reported net income grew 41.1% from the prior-year period to 192.0 million pesos, or 5 centavos per share, from 136.0 million pesos, or 4 centavos per share.
As of May 6, US$1 was equivalent to 44.48 Philippine pesos.
