May 19, 2024
Companies

Familia 2017 Net Income Doubles Year-on-Year; Expansions Continue

Medellin-based multinational personal-hygiene products manufacturer Grupo Familia announced March 23 that its full-year 2017 consolidated net income more than doubled year-on-year, to COP$231 billion (US$81 million).

Operating income also rose 75% year-on-year, to COP$343 billion (US$120 million), according to the company.

Gross income rose slightly (just under 2%) year-on-year, to COP$2.3 trillion (US$809 million) in the eight countries where Familia now operates.

Familia also boasted that it launched 15 new products last year, under its various brand names, including “Nosotras,” “Pomys,” “Petys,” “Pequeñín,” and “Familia,” according to the company.

Grupo Familia also noted that its 2017 highlights included purchase of 100% of the stock of Dominican Republic-based product distributor Continental de Negocios, for US$16.5 million.

During 2017, Familia also launched a partnership with Massachusetts Institute of Technology (MIT) to review the company’s environmental sustainability plans.

Finally, subsequent to the close of fiscal year 2017, Grupo Familia also noted that it has now completed the buy-out of 100% of the stock of Productos Sancela del Peru, for US$37.7 million. That move bolsters Familia’s market strength in Peru and Bolivia, the company added.

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