Familia SA 2Q 2017 Profits Soar Year-on-Year
Medellin-based multinational personal hygiene products manufacturer Familia SA announced this month that its second quarter (2Q) 2017 net profits soared to COP$51 billion (US$17 million), up from a COP$51 billion (US$17 million) net loss in 2Q 2016.
Sales also rose in 2Q 2017, to COP$583 billion (US$196 million), versus COP$570 billion (US$191 million) in 2Q 2016, according to the company, which manufactures toilet paper, napkins, diapers, feminine hygiene products and other paper-based products for sale in 20 Latin American countries.
Grupo Familia was founded in 1958, initially as an importer of Scott toilet paper. But it now has four Colombian manufacturing plants — in Medellin, Rionegro, Cajica, Cauca – a fifh plant in Aconcagua, Argentina, and a sixth plant in Santo Domingo, Dominican Republic.
Former employees involved in an alleged toilet-paper price-fixing scheme with other companies several years ago have since been fired. Familia also paid a COP$62 billion (US$20.8 million) fine last year to settle those charges.