Ice cream sales lift RFMThis article was originally published in Foodnews
PHILIPPINE food group RFM Corporation has posted a 23% increase in sales to PHP3.2 billion (US$66.5 million) for the first five months of this year compared with the same period of 2008. The company's president and chief executive, Joey A Concepcion, attributed the stronger sales to "continuing product innovation, and enhancing the value-for-money proposition of our brands." He highlighted the launch of more Sunkist juice and iced tea flavours as well as growth in the Selecta milk brand. Selecta, RFM's ice cream joint venture with Unilever, has also displayed double-digit growth in the past three years, with successful product launches, and is now the number one ice cream brand in the Philippines.