Axelum swings to profit

Axelum Resources Corp., the country’s leading fully integrated manufacturer and exporter of premium coconut-based food products, reported a financial turnaround with a net income of P688 million last year, from a loss of P818 million in 2023.

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“Our turnaround strategies delivered positive results with some of our core product segments reaching new highs owing to proper execution and improved market conditions,” said Axelum President and COO Henry J. Raperoga in a disclosure to the Philippine Stock Exchange.

Axelum, an affiliate of Manuel V. Pangilinan-led Metro Pacific Investments Corp. (MPIC), generated record sales of P7.3 billion, up 29 percent from the previous year, driven by robust volume growth across core product segments.