Strong sales buoy Axelum's Q1 profit

Earnings of Axelum Resources Corp. rose by 29 percent to P138 million in the first quarter as sales for the period surged due to higher volume and average selling prices across core product segment.

-  - Richmond Mercurio

The listed integrated manufacturer and exporter of premium coconut products generated sales of P2.2 billion during the period, up by 38 percent year-on-year.

Desiccated coconut, coconut water and coconut milk/cream collectively accounted for 74 percent of total revenue during the quarter.

While the United States remains to be its largest export base, Axelum said it saw increasing contribution from other key markets, particularly Europe and Asia.