BOGOTA, Colombia – Procafecol S.A, the company that manages the Juan Valdez brand and retail chain, registered a total of US$ 38 million in revenue from ordinary activities during 2016’s first semester.
This represented an 18% increase compared to the US$ 32 million registered during the same previous period.
This positive outcome was the result of the company’s international and domestic expansion strategy, the introduction of a new product portfolio in Juan Valdez® Cafés, and the possibility offered to customers to place orders from mobile devices in certain cafés.
During 2016’s first semester, six new stores opened their doors to the public in Colombia and several cafés opened abroad in countries including Mexico, El Salvador, Costa Rica, Curacao, Bolivia, Chile and the United States.
Procafecol also had an adequate level of operating costs and expenses. Cost of sales during 2016’s first semester fell to 38% of operating income. Similarly, administrative and sales expenses fell from 39% of operating income during 2015’s first semester, to 38% during the first half of 2016.
Cost and expense optimization contributed to an increase in the company’s operating income. Operating income increased 18% by reaching a total of U$ 1,9 million. The company’s net income, however, reached a total of US$ 30,032 as a result of devaluation.
All presented figures were reported in accordance with the International Financial Reporting Standards (IFRS).
For 2016’s second semester, Procafecol will continue its expansion strategy in all commercial spheres, seeking to uphold its position as the world’s leading premium Colombian coffee company.