MPIC remains interested in Axelum philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.
Listed infrastructure conglomerate Metro Pacific Investments Corp. has forayed into the coconut industry with the acquisition of a 34.76 percent stake in Axelum Resources Corp. (ARC) for P5.32 billion.
Metro Pacific unit taking 35% stake in Axelum for P5 billion bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Published May 24, 2021, 3:33 PM
Coconut products exporter Axelum Resources Corporation reported a 21 percent growth in net income to P146 million in the first quarter of 2021 from the P121 million earned in the same period last year.
In a disclosure to the Philippine Stock Exchange, the firm said sales rose 22 percent to P1.47 billion driven by the strong performance across all core product segments.
In terms of volume, desiccated coconut grew 19 percent while sweetened coconut, coconut milk powder and coconut water, increased 19 percent, 15 percent and 10 percent, respectively.
Recently, Axelum was granted a fresh four-year tax holiday for its new agglomerated spray-dryer which started commercial production in April 2021. This is set to double production capacity of its lucrative coconut milk powder business.
April 8, 2021 | 12:04 am Font Size
AXELUM.PH/
AXELUM Resources Corp. seeks to increase its market share in the United States e-commerce business after receiving positive customer response for its products.
In a disclosure to the stock exchange on Wednesday, the listed coconut products manufacturer and exporter said some of its products such as organic coconut flakes had placed among the top 20 bestsellers in their segment and received positive reviews from customers.
In 2018, the company launched an introductory product line-up under local brand Fiesta Tropicale with global e-commerce platform Amazon.
Axelum said the initiative aims to take advantage of new methods of advertising and connecting with customers through a fast and cost-effective manner.