Alaska Milk targets 20% revenue growth this year

ALASKA Milk Corp. (AMC), a local milk product manufacturer, is aiming for a robust recovery of its business this year, a company official said.

Maria Angela N. Esquivel, AMC corporate affairs director, said the milk product manufacturer is targeting a revenue growth of 20% for the current year.

“(We are aiming for a) minimum of 20% growth in turnover (revenue), with strong recovery on profitability by the end of the year,” she told reporters.

According to Ms. Esquivel, the 2023 growth target is higher than the 6% increase in revenue posted by the AMC last year driven by the sales of its products in the culinary, ready-to-drink, and coffee creamer categories.

“The growth drivers include the strong start of FrieslandCampina Professionals overachieving its target for the first quarter of the year, and continuous recovery of the creams category and increasing demand of our core sweet condensed milk shelf keeping units (SKUs),” she said.

The AMC also targets to continue the growth of its core products and support the market distribution of its new products year.

“We are driving our core products especially on evaporated milk, sweetened condensed milk, and milk powders,” Ms. Esquivel said.

“We have launched new products in 2022 to aid our objective of driving distribution focusing on penetration SKUs. We had the successful launch of Frutti Yo yoghurt milk drink and Sakto Pack sweetened condensed milk which have helped drive our distribution,” she added.

At the same time, she said that the AMC will continue to invest in the country for the coming years as part of efforts to boost its market presence amid the challenging business environment.

“We continue to invest behind our FrieslandCampina Professionals business unit as one of the key sources of growth in the coming years,” Ms. Esquivel said.

AMC is a subsidiary of multinational dairy cooperative FrieslandCampina based in Netherlands. Some of the company’s products include evaporated milk, condensed milk, culinary creams, powdered milk, ready-to-drink milk, and coffee creamer. — Revin Mikhael D. Ochave