AXELUM Resources Corp. is aiming for a stronger second-half performance as it continues to meet customer orders despite shipping challenges, and after reporting positive results in the first six months of the year.
In a stock exchange disclosure on Monday, the listed coconut product exporter and manufacturer said it continues to fulfill increasing orders from major customers in key export markets amid issues on rising shipping fees, delayed container turnover, limited cargo space, and global port congestion.
Henry J. Raperoga, Axelum president and chief operating officer, said the company is confident that it can deliver “even better results” for the second semester.
“Despite formidable headwinds, our business continues to generate momentum as we usher into our traditional peak season,” Mr. Raperoga said.
Axelum previously a 57% increase in its first-half net income to P318.42 million, while its topline rose 30% to P3.1 billion due to stronger performances across its core product segments.
According to the company, it is gaining traction in the domestic e-commerce space after the launch of its digital stores in e-marketplaces such as Lazada and Shopee.
It disclosed that online monthly sales have almost tripled since April, while its products are also continuing to get mainstream popularity among local consumers.
Meanwhile, Axelum disclosed that its plant has been processing an average of 21% more coconuts daily to address the increasing demand for the company’s products.
“To date, Axelum is producing at record output for its main product categories, translating to a busy manufacturing pipeline well into 2022,” it said.
On Monday, shares of Axelum at the stock exchange rose 1.82% or five centavos to end at P2.80 apiece. — Revin Mikhael D. Ochave