Neil Jerome C. Morales
Business World
HIGHER COSTS and tempered consumption will likely pull down profits of Alaska Milk Corp. this year, its top executive yesterday said.
To cope, the dairy firm is planning to tap markets in the rest of Southeast Asia as the Philippines reportedly becomes saturated, the official said.
“Certainly, there will be a drop in earnings [for the entire year]. When you are seeing your costs double and we are very conservative on not pushing this to the consumers, as a company we will absorb a lot of that margin pressure,” Alaska Milk President and Chief Executive Wilfred Steven Uytengsu, Jr. told reporters after the company’s annual stockholders’ meeting in Makati.
Already, earnings of Alaska Milk have been more than halved to P283.82 million in the first quarter from P523.2 million in the previous year.
In the first three months of the year, sales of Alaska Milk plunged by a quarter to P2.21 billion from P2.99 billion a year ago, the company said in its financial report.
The board of Alaska Milk yesterday declared a five-centavo-per-share cash dividend for shareholders as of June 3. It will be paid on June 30.
The company will also distribute a 55-centavo cash dividend to shareholders from June to March next year.
Read here
Business World
HIGHER COSTS and tempered consumption will likely pull down profits of Alaska Milk Corp. this year, its top executive yesterday said.
To cope, the dairy firm is planning to tap markets in the rest of Southeast Asia as the Philippines reportedly becomes saturated, the official said.
“Certainly, there will be a drop in earnings [for the entire year]. When you are seeing your costs double and we are very conservative on not pushing this to the consumers, as a company we will absorb a lot of that margin pressure,” Alaska Milk President and Chief Executive Wilfred Steven Uytengsu, Jr. told reporters after the company’s annual stockholders’ meeting in Makati.
Already, earnings of Alaska Milk have been more than halved to P283.82 million in the first quarter from P523.2 million in the previous year.
In the first three months of the year, sales of Alaska Milk plunged by a quarter to P2.21 billion from P2.99 billion a year ago, the company said in its financial report.
The board of Alaska Milk yesterday declared a five-centavo-per-share cash dividend for shareholders as of June 3. It will be paid on June 30.
The company will also distribute a 55-centavo cash dividend to shareholders from June to March next year.
Read here
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