Alaska Milk ups income by 14%

Powered by strong sales volume across all product lines, Alaska Milk Corp. (AMC) reported a 14 percent growth in its net income last year to P499 million from P439 million the previous year.

In its financial report submitted to the Philippine Stock Exchange, AMC said revenues rose nine percent to P4.34 billion while cost of sales and operating expenses increased also by nine percent to P3.73 billion.

The Alaska brand of liquid milk classic and value lines’ combined sales volumes grew almost 10 percent in 2003, driven largely by incremental sales of Evaporada and the continued brisk sales of Alaska sweetened condensed filled milk.

Its powdered milk business also continued to grow albeit at a slower rate, notwithstanding the contraction of the entire powdered milk market. The filled milk segment, however, continued to post growth as consumers continue to favor its affordability versus premium priced full cream milk. Alaska maintains the number two position in the powdered milk market.

Consumers appetite for UHT ready-to-drink milk remained strong notwithstanding a series of selling price increases implemented in 2003. Alaska Fresh & Alaska Slim sales volume posted a little over 10 percent increase, outpacing the growth of the ready-to-do-drink milk market during the year.