News

Vitarich to fork out P130M to expand warehouses in 2018 (FOODevolution)

Listed agribusiness firm Vitarich Corp. is earmarking P130 million in capital expenditures (capex) next year in an effort to expand its production capacity and achieve a target revenue growth of more than 30 percent.

The company allotted P80 million in capital spending in 2017.

Vitarich President and Chief Executive Officer Ricardo Manuel Sarmiento said next year's capex would be spent primarily on warehouse and support for its feed mills.

Vitarich sets aggressive expansion plan (INQUIRER.NET)

Listed Vitarich Corp., one of the country's pioneers in animal feeds and poultry production, is set to pursue an aggressive expansion program next year as it nears settlement of its financial obligations

Company president and CEO Ricardo Sarmiento said in a briefing yesterday that the company had submitted an application for a second debt-equity swap to the Securities and Exchange Commission. This, he said, would wipe out its the company's remaining P400- million debt to Kormansinc Inc.

Vitarich sees P150-million income, free from debt by June 2018 (BusinessMirror)

VITARICH Corp., a pioneer of the country's poultry and feeds manufacturing but felled by the Asian financial crisis, expects its bottom line this year  to grow eightfold to P150 million. The company also hopes to go completely debt-free by middle of next year.

While Vitarich's expected net income this year is only half of its earlier target of P300 million, it's a better figure compared to its mere P17.5 million posted last year.

Vitarich posts record gains, bares 2nd debt-equity swap (interaksyon by news5)

MANILA - Vitarich Corporation sustained its growth momentum in 2017, posting record gains in the third quarter and gearing up for nationwide expansion in 2018.

The pioneering food, animal feeds, and livestock company ended the third quarter with consolidated sale of goods amounting to P4.65 billion for the nine-month period, 27% higher than the sales revenue of P3.65 billion posted in the same period in 2016.

The company's gross profit increased by 12%, from P465 million for the first three quarters of 2016 to P521 million for the same period in 2017.

LOOK: DA: 7-km radius quarantine area cleared of bird flu virus (GMA News)

The Department of Agriculture has declared the seven-kilometer radius quarantine zone in San Luis town in Pampanga clear of the avian influenza virus.

Citing information from the DA, dzBB's Allan Gatus on Friday morning said that weeks of closely monitoring the area yielded negative results for the presence of the virus. 

 

Agriculture secretary Manny Pinol had reported that the outbreak of the avian flu virus in Pampaga first began in a quail farm in San Luis town on August 8.

Duterte leads boodle fight in Pampanga (Sunstar Manila)

PAMPANGA (Pampanga) -- President Rodrigo Duterte on Monday led a boodle-fight of chicken-based dishes in the City of San Fernando to prove to the public that poultry products from Central Luzon are safe for human consumption despite the bird flu outbreak in Pampanga and Nueva Ecija. "I assure the public that the poultry products in Pampanga and Nueva Ecija are safe for consumptions and that we, in government, are undertaking efforts to stamp out the outbreak and minimize its impact in the country," Duterte said in a speech.

Poultry shipment ban lifted with conditions, Piñol says (ABS-CBN News)

MANILA - (UPDATE) The ban on the shipment of poultry products from Luzon to other parts of the country will be lifted on Tuesday as long as the produce is not sourced from areas affected by bird flu, Agriculture Secretary Emmanuel Pinol said.

Poultry products from within the 7-kilometer radius quarantine zones in Pampanga and Nueva Ecija are still prohibited from being sold in the market, Pinol told reporters. 

Chicken, ducks and eggs must first be validated and sealed by quarantine officers before being shipped outside Luzon, he said. 

OFFICIAL STATEMENT ON AVIAN INFLUENZA

                                                                        OFFICIAL STATEMENT ON AVIAN INFLUENZA 
 
In view of recent pronouncements by the Department of Agriculture on the reported outbreak of Avian flu in Pampanga, Vitarich Corporation has conducted tests in all its farms, which confirmed that its birds are not affected by Avian influenza. 

The Market Monitor: "Vitarich profit soared 25% to P47.6M in Q1"

Agribusiness pioneer Vitarich Corp. posted record gains in 2016 and the first quarter of 2017, effectively sustaining its growth momentum in the last few years while gearing up for expansion in Luzon, Visayas, and Mindanao.

The company turned in its best year-end performance in recent time and laid the groundwork for its planned expansion initiative by turning in a robust performance in 2016.

The company registered a net income of P47.6 million in the first quarter, a hefty 25.26 percent increase from the company's net income of P38 million a year ago.

 

Malaya: "Poultry firm doubles feed output"

Vitarich Corp. is expanding its capacity as it banks on the prospects of growth for the business going forward according to company president,Ricardo Manuel Sarmiento. 

Sarmiento said the company has allocated P80 million for expansion that includes opening a new feed mill in Davao, more than doubling Vitarich's feed production in Mindanao. 

The Davao feed mill will be operational this July.

 Read more: http://bit.ly/2qTVrdw

Manila Bulletin: "Vitarich gears up for growth by doubling capacities"

Vitarich Corporation, a local poultry and feeds firm, is and its toll partners are doubling the capacity of their feed mills nationwide amid optimism that it will continue to grow its market share despite stiff competition.

"Vitarich's record performance in 2016 effectively fuels the company's growth plans for the coming year and beyond," said Vitarich President and Chief Executive Officer Ricardo Manuel Sarmiento.

 

Read more: http://bit.ly/2qTSUjR

BusinessMirror: "Vitarich allocates P80 million in capex for expansion plans this year"

VITARICH Corp. said on Tuesday it is appropriating P80 million in capital expenditure (capex) this year, mainly to finance its expansion initiatives aimed at beefing up its production capacities all over the country.

"[As for] our plans moving forward, Vitarich is geared up for expansion nationwide to supply the increasing demand of food and animal feed in the country," Vitarich CEO and President Ricardo Manuel Sarmiento told reporters during a media briefing held in Bonifacio Global City, Taguig.

 

The Daily Tribune: "Vitarich massive expansion plan bared"

Iconic food and animal feed brand Vitarich Corp. has bared massive expansion in Luzon, Visayas and Mindanao to meet increasing demand for food and animal feeds across the archipelago, its president and chief executive officer Ricardo Manuel Sarmiento said.
In an exclusive roundtable with select business reporters, the president-CEO said the massive expansion is the flashpoint of the corporation's major success last year buoyed by increased demand for food and animals feeds.

The Philippine Star: "Vitarich targets P300-M income"

MANILA, Philippines - Vitarich Corp., one of the pioneers in poultry and feeds manufacturing in the country, targets a P300-million net income this year, a huge jump from P18 million in 2016, as it gears up for its massive expansion nationwide.

Months after exiting corporate rehabilitation, the company said it is confident it would be able to sustain the gains last year and expects to post a 17-fold increase in net income, banking on expansion in Luzon, Visayas and Mindanao.

Vitarich earmarks P80M for 2017 capex

Months after exiting corporate rehabilitation, poultry grower and feeds maker Vitarich Corp. on Tuesday said it has recovered and allocated P80 million to capital expenditure 9capex0 for the year.

"This year, and moving forward, we will see more capex," Vitarich Chief Executive Officer and President Ricardo Manuel Sarmiento told reporters in Taguig City.

Read more: http://www.gmanetwork.com/news/money/companies/611800/vitarich-earmarks-...

Vitarich seeks to double capacity after exiting rehab

MANILA - Poultry and feeds company Vitarich said Tuesday it set aside P80 million for capital expenditures this year, as it sought to double capacity one year after it exited corporate rehabilitation.

A new feed mill in Panacan, Davao will start operations in July, and is expected to double output to 232,000 50-kg bags of feeds per month, from 93,600 bags currently, said Vitarich president & CEO Rocco Sarmiento.

Who to expect on this year’s Davao Agri Trade Expo

With a little more than a month from the annual flagship event of the Davao City Chamber of Commerce & Industry, Inc. - the 18th Davao Agri-Trade Expo (DATE), it's great to know who you would be expecting to be part of the said event.

The conduct of DATE 2016 is supported by its long-time event partners: Local Government Unit of Davao City, Department of Agriculture, Department of Trade & Industry, Mindanao Development Authority, and Philippine Coconut Authority.

 

Cook's Hot Promo

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Cooks Hot promo available in selected Puregold branches:

1. PG Commonwealth market
2. PG Balintawak
3. PG Marikina
4. PG Zabarte Road
5. PG Paso de Blas Valenzuela (Malinta Exit)
6. PG Cubao
7. PG Malolos
8. PG Tungkong Mangga San Jose Del Monte Bulacan
9. PG Starmall San Jose Del Monte Bulacan
10. PG QI

23rd international Agribusiness Exhibition & seminars/ 17th international Food Processing, packaging & products exhibition / 12th national fisheries exhibition & seminar

YOU'RE INVITED!

 

*** Everyone is welcome to attend the 23rd international Agribusiness Exhibition & seminars/ 17th international Food Processing, packaging & products exhibition / 12th national fisheries exhibition & seminar this coming October 6-8,2016 at the World Trade Center Manila.

 

DO DROP BY THE VITARICH BOOTH. (BOOTH #142-145)

 

See you there!