AXELUM Resources Corp. expects a better second-half performance as it continues to fulfill client orders despite shipping difficulties and after reporting good results in the first half of the year.
The listed coconut product exporter and producer stated in a stock exchange filing on Monday that it continues to fulfill growing orders from significant clients in key export countries despite increased shipping costs, delayed container turnover, restricted cargo capacity, and worldwide port congestion.
Axelum president and chief operating officer Henry J. Raperoga said that the firm is optimistic that it can produce “even greater results” in the second semester.
“Despite significant challenges, our company is generating momentum as we enter our typical peak season,” Mr. Raperoga added.
Axelum earlier increased its first-half net income by 57 percent to P318.42 million, while its topline increased by 30 percent to P3.1 billion owing to better performance across its key product categories.
The business claims that it is gaining momentum in the domestic e-commerce sector as a result of the introduction of its digital shops on e-marketplaces such as Lazada and Shopee.
It said that its online monthly sales have almost quadrupled since April, and its goods are also gaining widespread appeal among local customers.
Meanwhile, Axelum said that its facility has been processing an additional 21% more coconuts each day to meet the company’s growing demand.
“To date, Axelum is generating at record output for its major product categories, implying a busy production pipeline far into 2022,” the company said.