Firm posts P281M in revenues last year-A A +A
Saturday, March 8, 2014
THE Sun Life Asset Management Company Inc. (SLAMCI) posted a total of P281.823 million in gross sales in Davao City last year.
SLAMCI president Valerie N. Pama, during a press briefing on Thursday at Bistro Rosario, said the company's revenue in 2013 increased by around 300 percent as compared to P95.591 million in gross sales in 2012.
She attributed the growth to the increasing purchasing power of the Dabawenyos on the back of the robust economic growth that propels economic activity in the city.
"It is evident with the gross sales that Davao City is one of the areas in the country experiencing high growth rate," she said.
SLAMCI also hit 121 percent increase in gross sales for Visayas and Mindanao areas.
In a press briefer, SLAMCI's gross sales in Visayas and Mindanao grew from P488 million in 2012 to P1 billion in 2013.
"The numbers prove that more and more Filipinos in Visayas and Mindanao are warming up to the idea of investing and we're happy that they're putting their trust in SLAMCI as they take major steps in their finances," Pama said in a statement.
Also, she also attributed the company's whopping sales increases to the 456 agents that allowed them to get a wider reach and better penetration within VisMin.
She also said the increased in purchasing power spurred by the economic growth in Vismin also contributed to the increase.
"Last year, we started to become more active in the Vismin area and now it has already borne fruit," Pama said.
SLAMCI also reported that its assets under management (AUM) grew by 28 percent, contributing P2.35 million AUM to the company's total AUM of P41.13 billion as of December 2013.
Published in the Sun.Star Davao newspaper on March 08, 2014.