Victorias Milling Co., Inc. Provides Earnings and Operating Guidance for the Fiscal Year 2017
January 24, 2017 at 11:12 am
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Victorias Milling Co., Inc. provided earnings guidance for the fiscal year 2017. For the period, the company expects its net income to decline by nearly 12.3% to PHP 700 million due to lower production. The company original outlook was PHP 1 billion. The expected capital expenditure for the period is around PHP 300 million
For the fiscal year 2017, the company expects milling tonnage of sugarcane between 3 MMT and 3.1 MMT, original target was 3.2 MMT of sugarcane. The company expects total raw sugar output to decline by 8.23% to 5.7 million 50 kilogram bag or around 285,000 metric tons. The company expects its refined sugar production to decline by nearly 20% to 4.2 million lkg.
Victorias Milling Company, Inc. is a Philippines-based integrated raw and refined sugar company. The Company operates mill and refinery facilities for sugar and allied products, as well as engineering services. The Company's segments include Sugar Milling, Distillery Operations, Power Generation and Others. Its Sugar Milling segment is engaged in the sale of raw sugar and molasses. Its Distillery Operations segment produces alcohol and ethanol with an actual daily capacity of 50,000 liters with molasses as the primary raw material. Molasses is sourced from sugar operations which produce it as a by-product. The Power Generation segment is engaged in the business of power generation derived from renewable energy resources for the wholesale of electricity to power companies, distribution utilities, electric cooperatives, retail electricity suppliers, aggregators and other customers. The Others segment includes food processing, real estate sales, leasing and entertainment.
VICTORIAS MILLING COMPANY, INC. 
