Pepsi-Cola Products Philippines Inc. (PCPPI), exclusive manufacturer of PepsiCo beverages in the country, said it expects a sustained recovery of its business going into the latter part of the year.
Frederick Ong, PCPPI president, said the company improved its market share and distribution efforts.
“This resulted in stronger brand performance. Our first quarter volume surpassed the total sales of 2021 and 2019 pre-pandemic level. Our leading brands Mountain Dew and Sting hit a remarkable growth versus previous year,” said Ong.
Ong, however, said the company remains “cautiously optimistic” given the challenges of increasing commodity prices.
“The company sustained the momentum as it made a 2022 fast start for both carbonated soft drinks and non-carbonated beverages but sees the huge challenge of increasing commodity prices for the year,” he said.
PCPPI closed 2021 with an earnings before interest tax depreciation and amortization of P3 billion, over revenues of P32.8 billion.
