RFM Corp. CEO Jose Ma. A. Concepcion III said 2024 is looking promising due to lower raw material costs after net income in the first semester rose 17 percent to P650 million.
The company’s sales for the first half of 2024 grew by 4 percent to P9.55 billion, driven by strong sales of pasta, pasta sauce, and ice cream, though flour sales dropped due to lower prices.
RFM is the maker of Selecta dairy products, Royal pasta and sauces and Sunkist orange juice.
Moreover, RFM maintained good liquidity and continues to support healthy dividend payouts.
RFM’s board of directors approved a P300 million cash dividend payable on Sept.13, 2024, bringing the total 2024 dividends to P800 million with a yield of 6.25 percent at the share price of Php3.80 as of July 31, 2024.
