RFM Corp. of the Concepcion family booked all-time high earnings last year amid the strong purchasing power of consumers on the back of he country?s booming economy.

Profits of the family ?owned food and beverage company rose nine percent to reach a record P908.4 million last year as sales recorded a double-digit 12 percent increase to P12.2 billion.

Jose ?Joey? Concepcion III, president and chief executive officer of RFM, said the company?s sales and earnings have been consistently growing over the past years.

For pasta, both Fiesta and Royal brands posted record growth rates and new high levels, growing double digit, faster than the single-digit growth rate of the pasta category.

Selecta ice cream, likewise, hit double-digit growth rates again as it expanded the market and increased consumption frequency with new product innovations and value propositions.

?Income also registered a new-high level as we sold more of the higher-margin products and as we hit better economies of scale that helped spread overhead costs,? he said.

He pointed out other businesses like milk have also exhibited improvements in performance after fine-tuning its business model.

With its stronger income and cash flow, RFM has paid up all its parent company debts to strengthen further its balance sheet despite bigger working capital used for production during the peak months of the fourth quarter.