Splash expects higher revenues for 2008

MANILA, Philippines - Personal care products maker Splash Corp. said it expects its 2008 earnings and revenues to register higher figures than in the previous year due to its strong customer base and a loyal following.

Rolando Hortaleza, chairman and chief executive officer of Splash, said the company is eyeing a single-digit growth in top line but a double-digit expansion in its bottom line last year.

He said the company is still finalizing the numbers and will make the necessary disclosure once the audit has been completed.

Nevertheless, Hortaleza said he is satisfied with the company’s performance and is optimistic this year’s results will even be better in spite of the tough economic challenges.

In 2007, Splash reported a net profit of P271 million on revenues of P3 billion.

Splash, the maker of market-leading and popular brands Maxipeel, Extraderm, Skinwhite and Kolours, has been able to withstand strong competition due to the consuming public’s warm reception to its products.

Jessin Soriano, Splash president and chief operating officer, said: “Strong consumer acceptance of our Skin White and Maxipeel brands has enabled our company to exceed the P1-billion revenue mark in October and November 2008.”

Other brands being sold by the company include Biolink, Extract, Extraderm, Tricks and Vitress.

Recently, Splash launched new lines under the Theraherb brand namely, Up&Alert, Off-to-Bed and Slim & Slender, to enhance its competitiveness in the health and wellness category which targets the growing call center market.

“We remain faithful and committed to our goal of becoming an international player in the personal care category and be a source of pride and inspiration to many other Filipino enterprises,” Soriano said.

In view of the increasingly difficult business environment, Splash has put on hold planned acquisitions and instead focus on developing new brands, innovating products and creating categories.

Splash, however, will continue to expand its presence overseas with plans to invest P50 million in a new subsidiary that will market and distribute its products in Indonesia beginning this year. Splash products are currently spread in 1,032 outlets of leading groceries and supermarkets, with 23 third-party distributors serving 26,102 retail outlets.  – Zinnia Dela Peña