Agriculture remains the cornerstone of food security, employment, and economic growth in the Philippines. It is among the country’s three main economic sectors, accounting for 8.6% of the country’s gross domestic product and employing 23.2% of the total labor force in 2023.
One of the key players in the sector is Vitarich Corp. Founded in 1962, the company is a leading poultry integrator and manufacturer of animal feeds and food products in the Philippines. It continues to reach more Filipino consumers with its recently expanded selection of fresh and freshly frozen food offerings.
In 2023, the company raked in a record-high revenue of nearly P12.5 billion. However, profits dropped to P13.3 million from P89.6 million in 2022 due to lower gross profit and higher expenses.
This year, Vitarich delivered its strongest nine-month results yet, demonstrating efficient strategy execution that has improved the profitability and financial position of the company. While its revenues did experience a slight dip of 4.3%, net income soared 547% to P259.1 million in the January to September period compared to P40.0 million a year ago.
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