Universal Robina Corp. (URC), the food manufacturing unit of the Gokongwei Group, on Thursday reported a 4% growth in its core net income for the first quarter of the year, as the company recorded lower finance costs during the period.
In an emailed statement, URC said its core net income climbed to P4.1 billion, while total operating income rose slightly by 1% to P5.5 billion. Net income from continuing operations fell 2% to P4.3 billion.
“We are starting the year on a high note, delivering impressive volume growth across our key branded businesses in the first quarter of 2025,” URC president and chief executive officer Irwin Lee said.
“As overall consumer confidence and sentiment improve, we look forward to accelerating our forward momentum and continuously improving URC’s performance,” he added.
Sales for the branded consumer foods (BCF) segment increased 6% to P29.7 billion, with Philippine sales up 4% as it reported double-digit growth in its ready-to-drink, beverages, snacks, and confectionary products.
International sales were up 10% to P9.6 billion, with the company’s overseas subsidiaries located in the Cayman Islands, the British Virgin Islands, China, Hong Kong, Indonesia, Malaysia, Singapore, Thailand, Myanmar, and Vietnam.
The company’s agro-industrial and commodities (AIC) group posted an 8% growth in sales to P15.6 billion, as higher volumes from its sugar and flour businesses offset weaker animal feed sales.
The company
is looking to spend at least P8 billion this year
, with a focus on expanding its facilities and capacity.
Shares in URC were last traded at P85.40 apiece, down by P1.50 or 1.73% from Wednesday’s finish of P86.90 per share.
— BM, GMA Integrated News
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Universal Robina Corp. posts slight growth in Q1 net income
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