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Pepsi-Cola Products Philippines Q2 profit climbs 7.2% YOY

Pepsi-Cola Products Philippines Inc. said its second-quarter normalized net income amounted to 9 Philippine centavos per share, a gain of 11.1% from 8 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 329.4 million pesos, an increase of 7.2% from 307.2 million pesos in the year-earlier period.

The normalized profit margin climbed to 4.5% from 4.4% in the year-earlier period.

Total revenue increased 5.1% on an annual basis to 7.38 billion pesos from 7.02 billion pesos, and total operating expenses grew 5.2% from the prior-year period to 6.88 billion pesos from 6.53 billion pesos.

Reported net income rose 6.9% year over year to 368.3 million pesos, or 10 centavos per share, from 344.4 million pesos, or 9 centavos per share.

As of Aug. 17, US$1 was equivalent to 46.39 Philippine pesos.