Revenues, meanwhile, decreased to 848.1 million pisos from 1.019 billion pisos in the same period a year ago.
Net income in the company’s Bakery Flour segment totaled 7.6 million pisos in the year ended Dec. 31, 2017, down from 77.6 million pisos in the same period a year ago. Revenues for the segment fell to 672 million pisos from 822.5 million.
In the company’s Mill Feed segment, net income in the year ended Dec. 31, 2017, totaled 741,498 pisos, down from 8.9 million pisos in the same period a year ago. Revenues fell to 65.5 million pisos from 96.4 million.
Liberty Flour Mills’ flour products include El Superior and LFM Bakers, which are flour used for making bread; Pine Tree and LFM Soft Flour, which are used for the manufacture of biscuits and cookies; and Maya all-Purpose Flour. The company also manufactures millfeed, which is a flour byproduct used for animal feeds.
The company’s products mainly are sold through three distributors: Parity Values, Inc., Trade Demands, Inc., and Liberty Commodities Corporation. The products are then sold mainly to bakers, industrial end-users (i.e. pastry and cake shops) as well as supermarkets.