MANILA, Philippines – Calata Corporation, a major manufacturer of agricultural products disclosed a 7% net income hike last year which is 165.45 million pesos. This is higher than the previous year.
Calata told reporters in the regulatory filing that the revenues dropped 4% or 2.16 billion pesos because of the fewer sales in the agro-products due to the risks of natural calamities and other external factors. But the low revenue was then counterbalanced by the cut in gross expenses.
According to Calata, due to the drought which is now experienced in the summer season, a declining trend is also exhibited in the second quarter of the year. This is what’s affecting the agro-products sale especially in the parts of Luzon.
Meanwhile, the sales of swine livestock skyrocketed to 60% or 130.5 million pesos and the meat products’ sale increased 33% or 93.4 million pesos.