Bogo-Medellin Milling Co., Inc. Reports Unaudited Earnings and Production Results for the Quarter Ended December 31, 2017
February 15, 2018 at 07:56 am IST
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Bogo-Medellin Milling Co., Inc. reported unaudited earnings and production results for the quarter ended December 31, 2017. For the quarter, the company's gross revenue was PHP 1.49 million compared to PHP 24.6 million a year ago. Loss from operations was PHP 37.21 million compared to PHP 19.38 million a year ago. Loss before income tax was PHP 37.21 million compared to PHP 19.38 million a year ago. Net loss attributable to parent equity holder was PHP 37.21 million compared to PHP 19.38 million a year ago. Diluted loss per share was PHP 6.20 compared to PHP 3.23 a year ago. Net cash used in operating activities was PHP 29.99 million compared to PHP 39.2 million a year ago. Return on asset was negative 13.86% compared to negative 6.16% a year ago. Book value per share was PHP 36.13.
For the quarter, the company's volume of sugar produced was 17,643.60 LKg compared to 43,253.28 LKg a year ago. Mill share sugar was 5,910.61 LKg compared to 14,489.85 LKg 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.