May 06, 2013

Roxas Holdings income jumps 36%

Sugar miller Roxas Holdings, Inc. (RHI) reported yesterday a 36% increase in its net income for the first half of its fiscal year on better profit margin, lower operating expenses and reduced interest expenses. The company said its net income for the first semester of its fiscal year ending March 31, 2013 rose to P205 M from P151 M in

the same period the previous fiscal year despite a drop in consolidated revenues. RHI’s consolidated revenues fell 19% to P2.9 B from P3.5 B last year. This included a one-time export of carry-over raw sugar from the preceding crop year, amounting to P1.1 B. - WealthSec

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