Northstar Meat Merchants Inc., one of the largest pork and beef vendors in the country, is optimistic to sustain growth this year as the economy recovers.
Anthony Ng, founder and chief executive officer, said the company sold 39 million kilograms of meat in 2021 translating to over P9 million in sales or around 52.5 percent growth vs the previous year.
Ng said despite of the challenges posed by the pandemic, North Star’s sales have grown at a compounded annual growth rate (CAGR) of 39.7 percent and its net income has grown at a CAGR of 131.9 percent from 2019 to 2021.
Ng said the company intends to put up cold storage and distribution hubs in provinces that are critical to the company’s operations and logistics.
“ We shall look for strategic locations that have dense population and high levels of tourism activities.
We will continue to study, monitor, and analyze the market in both Visayas and Mindanao, as well as the rest of the country,” Ng said.
Ng said North Star expects the continuation of delayed mall and community-based store openings this year due to the easing of the alert levels with will translate to improved accessibility and demand for its products.
