Vitarich income increased 66% in Q1 2023


Driven by strong sales volume across segments, Vitarich Corp reported a 66% rise in its Q1 net income to USD 1.2 million. The company is also implementing improvements like reducing inventory levels, process optimization, and more effective performance monitoring to manage its working capital, CEO Rocco Sarmiento said. Revenues from the feed and food units were up 37% and 22%, respectively. Additionally, Vitarich upgraded its dressing plant in Bulacan, increased its cold storage and blast freezing capacity, and generated operating efficiencies during the quarter.