Let’s talk bread.
“Gardenia Bakeries Philippines plans to invest PHP1 billion to construct its first-ever facility in Mindanao and its seventh plant in the country,” reports Cathy Yang on ABS-CBNnews.com.
The report noted: “Gardenia’s president Simplicio Umali said the firm is considering to set up its facility in Davao, but that it’s also open to put it elsewhere in the south.”
Umali likewise added that “the bread market in the Philippines is expected to grow into an PHP18 billion market” as consumption steadily increases.
In fact, as the report indicated, Gardenia expects revenues to hit about PHP5 billion this year from about PHP4 billion in 2015.
