November 18, 2005

Philippines' Alaska Milk sees fall in Q3 2005 net profit

Alaska Milk Corp's Q3 2005 net profit was 46.47 million pesos, down 60 percent from 116.83 million pesos during the same period last year. This was due to its expenses that rose faster than sales.

Sales revenue for Q3 2005 totalled 1.23 billion pesos, up slightly from 1.22 billion pesos in Q3 2004.

Meanwhile, cost of sales and operating expenses rose to 1.19 billion pesos, from 1.08 billion pesos during the same period last year.

The company's operating income for Q3 2005 totalled 41.81 million pesos, down from 142.15 million in Q3 2004.

From January to September 2005, Alaska Milk reported a cumulated net profit of 206.66 million pesos, down 38 percent from 332.22 million pesos during the same period last year.

Alaska Milk said consumer demand for milk products has remained sluggish, partly dampened by inflationary pressures.

The company also attributed higher cost of sales and operating expenses to higher costs of production inputs, as well as higher costs of utilities.