Business Skinning Left, pagematch: , sectionmatch: 1

Business ( Leaderboard Top ), pagematch: , sectionmatch: 1

AgriNurture income doubles in 9 months

MANILA, Philippines — Agriculture trading firm AgriNurture Inc. almost doubled its net income for the nine-month period on the back of higher sales.

In a regulatory filing, the company said it earned P14.5 million in January to September as consolidated sales of goods and services surged 54 percent to P725 million while gross profit went up nine percent to P202 million.

Local distribution sales doubled to P507 million with the addition of the rice trading business and increase in profitability of business in supermarket outlets.

Export sales also improved 12 percent to P97 million due to higher coco juice, banana and mango sales following stable selling prices in the international markets.

Local operations contributed 94 percent of consolidated sales while foreign operations accounted for the remaining six percent.

Retail and franchising sales expanded 17 percent to P75 million due to improvement of operations and increase in franchise revenues and event sales during the period.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Foreign trading operations, meanwhile, plummeted 71 percent to P46 million due to the reorganization of its subsidiary Joyful BVI.

ANI supplies other home-grown fruits such as banana, pineapple, mango, processed fruits such as frozen fruits and coconut water to Hong Kong, China, Australia and Europe, among others.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1
  • Follow Us:
Business Skinning Right, pagematch: , sectionmatch: 1