Splash sets up Holding Firm for Overseas Forays

Splash Corporation, the country’s leading local personal care manufacturer, is optimistic that it will end the year in a dramatic fashion both in terms of Sales Revenues, which is expected to be 15% higher than last year, and profitability for 2010 which is expected to be more than 5 times the 2009 level.

In a statement, Eric Domagas, President and Chief Operating Officer of Splash Corporation said the company is expected to post significant gains for the full year 2010.

“We are confident that we will deliver our full-year performance target of 450 percent increase in net income. We attribute this to efficient use of plant assets, tighter control on expenses, launch of our new products like Hygienix and Skinwhite Teens Lotion and the strong performance of our three business segments – domestic, international and direct selling,” Domagas said.

Splash recorded a net income of P23.73 million and revenues of P2.71 billion in 2009.

“Our performance in 2009 was affected by the global economic downturn and some internal issues but we have bounced back and are confident that the company will continue to post double digit growth through to next year,” he said.

“Our direct selling business will expand to 11 full blown branches and 26 independent centers run by dealers by the first quarter next year and our recently launched Skin White Naturals Papaya Milk has been very well received and surpassed expectations” Domagas shared.

Skin White Naturals Papaya Milk is the first product in the market that combines the known whitening ingredients of papaya and moisturizing properties of milk.

The new product launch, coupled with the strong performance of the different lines under the Skin White brand, has helped it to maintain its position as the number one whitening brand. Dr. Hortaleza meanwhile, the company’s Chairman and Chief Executive Officer, amplified Splash Corporation’s optimism especially in foreign markets.

“We are also very excited about the opportunities in our international markets. We have established new offices in Kuala Lumpur, Malaysia, Ho Chi Minh City in Vietnam and in Africa. These newly established offices bring us several steps closer to our target market and enable us to influence our local consumers directly.

It is very significant to note that Splash Products are now catering to and patronized by the local/mainstream market and not purely by overseas Filipinos.”

The Chairman and CEO said. Splash, whose shares are listed at the Philippine Stock Exchange, started from humble beginnings with a capital of only P12, 000 but has since grown into a billion peso company in terms of revenues.