URC income up 8 percent to P7 billion in H1

MANILA, Philippines — Universal Robina Corp. (URC) posted a net income of P7 billion in the first half, up eight percent from a year earlier.

Sales reached P78.6 billion for the first six months ending June 30, up 11 percent over the same period last year.

Irwin Lee, URC president and CEO, said the company has maintained its sales momentum while showing improving margins against last year, despite higher input costs and inflationary pressures.

“The company will continue to prioritize profitable growth on the back of our strong brands and consistent operating discipline. No matter the external environment, URC takes pride in continuously delighting consumers with good food choices,” he said.

All businesses continued to grow, signaling resilient consumer demand across the region.

The Branded Consumer Foods (BCF) for instance recorded sales of P54.1 billion for the first half.

BCF Philippines alone grew by seven percent versus the same period last year, raking in at P37.4 billion in revenues.

Similarly, BCF International continued to expand, growing by seven percent versus last year to close the period at P16.8 billion. Vietnam, Malaysia, and Myanmar continued to drive the growth of the division.

The Agro-Industrial & Commodities (AIC) meanwhile recorded sales of P23.8 billion, accelerating growth to 23 percent versus the same period last year, driven by sugar and renewables on the back of higher selling prices and the Agro-Industrial Group with its strong feeds sales.

This developed as URC’s subsidiary in Hong Kong bagged two awards in an annual event honoring the partner brands of Park ‘n Shop, Hong Kong’s leading supermarket chain.

URC Hong Kong won the Outstanding Advancement Brand Award for its Jack ‘n Jill-branded Potato Chips, Roller Coaster and Beef Crunchies that helped Park ‘n Shop chalk up a 32-percent business growth.

The company also received the Exclusive Product Collaboration Award for its close coordination with Park ‘n Shop since 2020 to develop custom-made flavors of Potato Chips under the Jack ‘n Jill brand.

That led to more exclusive flavors, including Tom Yum and Black Truffle, and significant growth for 2022.