By Catherine N. Pillas
GARDENIA Bakeries Philippines Inc. (GBPI) hopes to make net sales of P5 billion this year, as it is set to substantially increase capacity with its newly inaugurated P1-billion plant in Laguna.
The Singapore-headquartered bread company recently inaugurated its sixth plant this week, boasting of a 150,000-loaf capacity, a 50-percent increase in its current production capacity.
Simplicio Umali, general manager and president of Gardenia Philippines, said that, with the new plant online, the target this year can be increased by P1 billion, from 2015’s actual sales haul of around P4 billion.
The bread maker continues to be the market leader in the Philippines’s packaged bread segment, cornering 50 percent of the market nationwide, and 60 percent to 65 percent in Metro Manila. That segment is estimated to be worth P9 billion.
This already dominant position can improve further to 60 percent to 70 percent of the market in three years, Umali said. The new, state-of-the-art plant in Laguna, dubbed by officials as a “6K2” plant, will serve the bread demand of consumers in the entire Luzon market from Cagayan Valley to Sorsogon Province.
The Laguna plant is the second plant of GBPI with the maximum capacity to produce 6,000 loaves per hour.
The QAF Group of Singapore is the parent company of Gardenia Philippines.
QAF is a regional food conglomerate listed on the Singapore Stock Exchange. Its major businesses include bakery, primary production, and trading and logistics.
Image credits: Alysa Salen