Listed RFM Corp. saw its net income increase by 5 percent to P611 million in the first half of the year from P580 million in the same period in 2019. In a disclosure on Wednesday, the food and beverage company said preliminary figures showed that its sales were up 2 percent to P7 billion from P6.9 billion year-on-year. He noted that consumers’ eating behavior during the lockdown shifted food demand, which benefited their brands, including Selecta Fortified Milk and Fiesta and Royal pasta and sauces. The chief added that there was also a surge in demand for their hotcakes and other products under the White King brand. RFM shares climbed up 20 centavos or 4.76 percent to close at P4.40 apiece on Thursday.

Source: Manila Times July 30, 2020 18:11 UTC