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Manila Bulletin devider Business devider The Stock Market devider RFM first-half profit hits ₱809 million on consumer food demand

RFM first-half profit hits ₱809 million on consumer food demand

Published Aug 10, 2026 12:00 am
Concepcion-led food and beverage firm RFM Corp. reported a five percent improvement in consolidated net income to ₱809 million for the first half of the year from ₱772 million earned in the same period last year.
Based on the firm’s financial statement, group net revenues increased by seven percent to ₱10.49 billion in the first semester of 2026 from ₱9.78 billion year-on-year, primarily driven by continued strength in both the Consumer and Institutional Groups.
Gross profit rose 11 percent to ₱3.87 billion, while net operating income improved two percent to ₱998 million despite higher general and administrative expenses incurred during the period.
These overhead expenses increased primarily due to higher corporate costs, including one-time charges recognized by the Group's joint venture in connection with the global separation of the ice cream business.
Magnum RFM Ice Cream, Inc. (MRIC), formerly Unilever RFM Ice Cream, Inc. (URICI), is a 50-percent joint venture between RFM and Unilever Philippines, Inc. (UPI).
In December 2025, following the global separation of the ice cream business from the Unilever Group, The Magnum Ice Cream Company HoldCo 1 Netherlands B.V. took over UPI’s ownership stake in MRIC.
For the second quarter, RFM Group net revenues increased five percent to ₱5.52 billion in 2026 from ₱5.26 billion last year, with the Consumer Group remaining the primary driver of revenue growth.
Gross profit for the quarter improved 11 percent to ₱2.14 billion. However, net operating income declined two percent to ₱596 million due to elevated general and administrative expenses, driven by the same joint-venture separation charges.
Despite the lower operating income, second-quarter net income increased slightly to ₱468 million, up from ₱463 million in the same period last year.

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