As the third quarter of 2025 closed, RFM Corporation stood firm in its role as a staple in the Philippine food industry. The company’s top line barely moved—net revenues edged up by just 1% to ₱5.45 billion , signaling a market that remains steady but competitive. Yet beneath this modest growth lay a story of operational discipline and strategic focus. Margins told the real tale. Despite flat sales, EBITDA surged to ₱830 million , lifting the margin to 15.2% , while net income climbed 3% to ₱480 million . How? RFM tightened its belt where it mattered: selling and marketing expenses dropped, and general administrative costs were kept lean. The result was a healthier operating margin of 11.2% , proving that efficiency—not just volume—can drive profitability. The Consumer segment emerged as the hero. Though its sales slipped slightly, its operating income jumped 24% , powered by better mix and pricing strategies. Meanwhile, the Institutional segment faced margin pressure despite high...