Agriculture remains the foundation of food security, employment, and economic growth in the Philippines. It is among the country’s three main economic sectors, accounting for 8.6% of the country’s gross domestic product and employing 23.2% of the total workforce in 2023.
One of the important players in this field is Vitarich Corp. Founded in 1962, the company is a leading poultry producer and manufacturer of animal feed and food products in the Philippines. It continues to reach more Filipino consumers with its recently expanded selection of fresh and frozen food offerings.
In 2023, the company achieved a record revenue of approximately P12.5 billion. However, profit fell to P13.3 million from P89.6 million in 2022 due to lower profits and higher costs.
This year, Vitarich delivered its strongest nine-month results to date, reflecting improved strategic performance that improved the company’s profitability and financial position. Although revenue decreased slightly by 4.3%, net income increased by 547% to P259.1 million in January to September compared to P40.0 million last year.
Vitarich President and CEO Rocco Sarmiento attributes the significant increase to better cost management and value-adding activities.
“We had to look for ways to manage our traffic. A major factor is the efficient procurement of raw materials. Also, our food business supplies a lot of restaurants, so that added value because we already make products for them. That means there is technology and knowledge transfer, so we don’t end up selling products that have been sold. We are partners in production, which not only gives us stable margins but also ensures a continuous supply chain,” he said.
Over the past ten years, Vitarich’s transition from a company that was involved in aqua feed, fighting cock feed, and cream dory production to focusing on poultry and livestock feed and poultry production has been a huge success.
“We focused on our business and ended up keeping it with animal feed and chicken farming. This is where we have had great success. Over the past five to seven years, this strategic focus has fueled our operations and we have been able to increase our technology efficiency and target these segments. That is what drives our growth since 2016,” said Mr. Sarmiento.
Building on this momentum, Vitarich entered the retail space to achieve meaningful scale and profitability.
“We are turning the company into a business that focuses on eating chicken because this is the part that is not sustainable due to the market price. We do this by differentiating our products through processing and product development, as well as entering the retail space,” explained Mr. Sarmiento.
Today, the company Cook’s brand is available in approximately 400 stores, grocery, and convenience stores. Next year, the company plans to introduce three additional product lines within “Flavour Origins”, which will be sold through modern trading channels.
Vitarich offers an innovative selection of fresh and ready-to-cook chicken products, including Fresh Whole Chicken, Freshly Frozen, and Frozen Origins, which come in three different styles: Mediterranean Roast, South African Roast, and French Roast.
The company has also expanded into online sales, making its Flavor Origins line available on platforms such as Lazada, Grab, and other e-commerce stores. Additionally, it has started Cook’s website to interact with customers and get better information about their behavior.
Along with its impressive nine-month performance in 2024, Vitarich was awarded for the first time good governance by the Institute of Corporate Directors (ICD). The Golden Arrow Award is given in recognition of a company’s performance in transparency, governance, and accountability to its stakeholders based on the assessment results of the 2023 ASEAN Corporate Governance Scorecard (ACGS).
“The award was a welcome surprise. It shows that we are doing something right. We hope that this recognition of our management practices will make Vitarich an attractive investment. We plan to support that and we intend to go up,” said Mr. Sarmiento.
With its strong financial performance and commitment to innovation, Vitarich doesn’t just adapt—it drives it. As the company expands into sales, strengthens its food business, and utilizes modern technology, Vitarich is poised to make an even greater impact on the Philippine agriculture sector in the coming years.
For more information, visit vitarich.com again cookschicken.com or contact person ir@vitarich.com.
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