Axelum Resources Corp. nearly doubled its first-quarter earnings to P267 million as stronger export demand and higher-margin products helped offset geopolitical tensions and volatile commodity and freight costs.

The listed coconut food products manufacturer said Friday net income jumped 94 percent in the January-to-March period, while pre-tax profit rose 89 percent to P290 million. EBITDA increased 59 percent to P367 million.

Revenue grew 7 percent to P2.3 billion on higher sales volumes and better selling prices across key product segments.

Gross profit rose 15 percent to P570 million, while gross margin expanded to 24 percent.

“Coming off a high base in 2025, we still managed to demonstrate growth despite an increasingly challenging operating environment,” Axelum president and chief operating officer Henry J. Raperoga said.

White meat exports continued to drive growth, with sales to North America up 16 percent and Australia up 53 percent.

Sales to Asia more than doubled due to new customer accounts and a growing order book. Domestic sales inched up 2 percent as newly launched products gained traction across retail and online channels.

To sustain growth, Axelum said it will continue product development and consumer expansion while improving operational efficiency through tighter inventory management, streamlined processes, and optimized resource use.

“We feel the broader consequences of the Middle East conflict, particularly its disruptive effects on the pricing fundamentals for commodities and ocean freight. Given sustained demand, we shall employ a more tactical approach to capital programming to seize value-accretive opportunities and withstand prolonged uncertainty,” Raperoga added.

Despite external pressures, Axelum ended the quarter with P3.4 billion in cash and cash equivalents, a current ratio of 4.2, and a debt-to-equity ratio of 0.2, highlighting what it described as a strong liquidity position and minimal gearing.