Bogo-Medellin Milling Co., Inc. Reports Unaudited Earnings and Production Results for the First Quarter Ended December 31, 2016
February 13, 2017 at 07:18 pm IST
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Bogo-Medellin Milling Co., Inc. reported unaudited earnings and production results for the first quarter ended December 31, 2016. For the quarter, the company reported sales of PHP 24,600,000 against PHP 30,207,000 a year ago. Loss from operations was PHP 19,381 against income of PHP 1,756,000 a year ago. Loss before tax was PHP 19,381 against PHP 1,756,000 a year ago. Net loss was PHP 19,381,000 or PHP 3.23 basic and diluted per share compared to net income of PHP 1,288,000 or PHP 0.21 basic and diluted per share a year ago. Net cash used in operating activities was PHP 39,195,000 against PHP 9,066,000 a year ago. Additions to property, plant and equipment was PHP 1,195,000 against PHP 1,938,000 a year ago. Negative Return on Asset was 6.16% against Return on Asset of 0.47% as at December 31, 2015. Negative Return on Shareholders Funds was 7.19% against Return on Shareholders Funds of 0.46% as at December 31, 2015. Book value per share as on December 31, 2016 was PHP 44.91.
For the quarter, the company reported sugar production of 43,253.28 Lkg compared to 53,813.00 Lkg produced in the same period last year.
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.