Coconut-based product manufacturer Axelum Resources Corp. said profit last year grew 37 percent at P983.52 million from P717.9 million.
Sales went up 11 percent to P7.04 billion from P6.36 billion.
“(The) Double-digit topline growth was driven by stable volumes, higher average selling prices and the impact of a stronger dollar,” the company said.
“Gross profit rose 21 percent to P2.11 billion, translating to an industry-leading gross margin of 30 percent, due to the larger contribution of high-value products. EBITDA (earnings before interest, expanded 31 percent to P1.50 billion, with a corresponding EBITDA margin of 21 percent, mainly attributed to revenue growth, margin expansion, cost rationalization and foreign exchange gain,” it added.
Henry Raperoga, Axelum president, said a “sustained global market demand, improved shipping conditions and the strength of the dollar” helped the company to post a “historic” result last year.
“Looking ahead, we are determined to build on this momentum despite prolonged effects of global macroeconomic headwinds particularly geopolitical armed conflicts overseas and untamed inflation,” he said.
