Cost surge offset Roxas Holdings’ sixfold sales hike

Listed sugar and ethanol producer Roxas Holdings Inc. (RHI) reported that its net income remained almost the same for its latest quarter ending December last year despite recording higher production and sales. In a disclosure last week, RHI said its net income attributable to equity holders of the parent company reached P195.93 million from P194.91 million in the same period last year. The company's top line grew by nearly six-fold or 484.2 percent to P4.18 billion from P715.67 million, but its cost of sales significantly climbed by 488.79 percent to P4.14 billion. Gross profit improved by 189.74 percent to P31.67 million yet operating expenses rose by 9.29 percent to P137.11 mi...Keep on reading: Cost surge offset Roxas Holdings’ sixfold sales hike

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