RFM Corp. has expressed optimism for the future of its ice cream business, reaffirming its commitment to its partnership with Unilever Corp. This collaboration is crucial, as the ice cream segment accounts for approximately one-third of RFM’s total revenues. The company reported revenues of P9.55 billion for the first half of 2024, marking a 4 percent increase from P9.18 billion during the same period last year.
Jose Ma. Concepcion III, CEO of RFM, highlighted the anticipated “stronger performance” from the partnership, noting both companies recognize the “immense growth potential” in the Philippines as a key consumer and ice cream market.
The RFM-Unilever joint venture has established itself as a major player in the industry, consistently ranking among Unilever’s top-performing ice cream businesses worldwide and positioning the Philippines within its top ten markets, according to Concepcion.
He also assured RFM shareholders of ongoing growth driven by innovations from Unilever’s global ice cream research and development, the introduction of new brands, and updated consumer insights, combined with the entrepreneurial spirit of RFM’s management.
The joint venture markets well-known ice cream brands such as Selecta, Magnum, and Cornetto. Unilever’s global ice cream division, which includes brands like Ben & Jerry’s and Wall’s, is valued at P480 billion.
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