Liberty Flour Mills, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 14, 2018 at 07:19 pm EDT
Share
Liberty Flour Mills, Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2018. For the quarter, gross revenue was PHP 208,516,815 against PHP 201,260,371 a year ago. Income before tax was PHP 727,437 against PHP 11,305,511 a year ago. Net loss after tax was PHP 1,454,462 against income of PHP 12,652,216 a year ago. Net sales were PHP 179,132,393 against PHP 174,495,913 a year ago. Loss from operations was PHP 1,906,874 against PHP 3,184,768 a year ago. Loss per diluted share was PHP 0.01 against earnings of PHP 0.08 a year ago. Net cash provided by operating activities was PHP 66,622,056 against PHP 21,317,690 a year ago. Acquisitions of plant, property and equipment were PHP 82,140,686 against PHP 44,377,922 a year ago.
For six months, gross revenue was PHP 377,622,128 against PHP 369,199,829 a year ago. Income before tax was PHP 7,499,223 against PHP 31,338,273 a year ago. Net income after tax was PHP 3,145,184 against PHP 30,780,216 a year ago. Net sales were PHP 318,061,504 against PHP 317,229,088 a year ago. Loss from operations was PHP 5,184,773 against income of PHP 5,410,553 a year ago. Earnings per diluted share were PHP 0.02 against PHP 0.21 a year ago. Net cash provided by operating activities was PHP 53,505,589 against PHP 117,470,925 a year ago. Acquisitions of plant, property and equipment were PHP 115,530,093 against PHP 83,645,376 a year ago.
Liberty Flour Mills, Inc. is a Philippines-based company engaged in the business of manufacturing various kinds of bakery flour and flour related products. The Companyâs bakery flour segment is engaged in manufacturing of flour and distribution/sales of its produce. Its mill feed segment engaged in the utilization of its by-products and distribution/sales of its produce. Its real estate and investment segment is engaged in leasing of office and commercial units and investment in securities. Its primary products include bakery flour and mill feed. El Superior and LFM Bakers are the Companyâs flour products which undergo the same processes as the other flour products it produces. These products are hard variety of flour for making pandesal and loaf bread. Pine Tree and LFM Soft are soft variety of flour which are used for making biscuits and cookies. Pine Tree and LFM soft are marketed by Trade Demands Corporation and Liberty Commodities Corporation.