PET Plans sees 50% jump in sales this year

PET Plans Inc., an all-Filipino pre-need company, is eyeing P2 billion in gross sales this year or a 50-percent increase from the previous level, according to its company chairman Adrian Ocampo.

PET Plans president Lorenzo Ocampo said the company is expected to perform better this year than last year on the back of higher sales.

In 2003, the company registered a 23- percent growth in sales.

"Sales are picking up. This is the first time in four years that we’ll be profitable. This year will definitely be a good one for us," he said.

Of the projected gross sales, P200 million is expected to come from new sales.

Company officials expect their dollar pension plan to contribute over 10 percent of the pre-need firm’s total sales this year.

For a minimum investment of $276, one can avail of the PET dollar pension plan, the latest product offering which assures a higher return than time deposit.

Available through an easy single payment scheme that frees plan holders from the risk of termination, the dollar pension plan aims to be the perfect hedge against inflation since investment is made with a stable and resilient currency.

The dollar plan is a participating plan that credits dividend earnings based on the performance of the trust fund. It comes with an optional support fund that advances a portion of the maturity value in case of planholders’ death.