Market Chatter: RFM CEO Brushes Off Iran War Risks
RFM (PSE:RFM) expects only temporary disruption from the Iran war, despite rising oil prices and supply chain pressures, Nikkei Asia reported Thursday, citing an interview with the food and beverage company's president and CEO Jose Concepcion III.Speaking to Nikkei Asia in Tokyo during Philippine President Ferdinand Marcos Jr.'s state visit to Japan, Concepcion said RFM had become more resilient since the COVID-19 pandemic. He acknowledged rising wheat and fuel costs but said the company was absorbing much of the increase instead of fully passing it on to consumers, according to the report.He told the news outlet that while the company's bottom line may take a hit, it has ample cash reserves.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)