Bogo Medellin Milling Co. Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended June 30, 2017
August 14, 2017 at 04:36 am
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Bogo Medellin Milling Co. Inc. announced unaudited consolidated earnings results for second quarter and six months ended June 30, 2017. For the quarter, the company reported sales of PHP 78,769,000, net loss before tax of PHP 26,065,000, net loss of PHP 26,065,000 or PHP 4.34 per diluted share, compared to the sales of PHP 141,942,000, net income before tax of PHP 11,083,000, net income of PHP 7,365,000 or PHP 0.28 per diluted share, for the same quarter a year ago.
For the year to date, the company reported sales of PHP 205,376,000, net loss before tax of PHP 74,338,000, net loss of PHP 74,338,000 or PHP 12.39 per diluted share, compared to sales of PHP 309,027,000, net income before tax of PHP 17,164,000, net income of PHP 11,711,000 or PHP 1.95 per diluted share, for the same period a year ago. Net cash used in operating activities was PHP 60,496,000 compared to net cash provided by operating activities of PHP 98,281,000 a year ago. Additions to property, plant and equipment was PHP 9,725,000 compared to PHP 16,236 a year ago.
Bogo-Medellin Milling Co., Inc. is a Philippines-based sugar mill, a manufacturing company. The Company is focused on producing, buying, manufacturing, refining, milling, importing, exporting, selling, exchanging, hypothecating, pledging, and general dealing in, store, ship, transport and carry sugar, sugar cane, sugar beets, molasses, syrups and related products. It operates through a single segment, which is sugar milling. The Company operates in two seasons: the milling and the off-season. Its mill site is located at Luy-a, Medellin, Cebu. The Company, through its subsidiary, BOMEDCO Agricultural Corporation (BAC), is engaged primarily in leasing agricultural land to be cultivated for sugar cane farming. BAC is engaged in the developing and cultivating private agricultural lands and harvesting, preserving, packing and selling the products of said lands. BAC produces sugar cane from its plantation for milling.