Udenna Group. has seen the return of investor confidence and is hopeful about recovery following inroads in its investments, according to its president, Raymundo Martin Escalona.
Escalona said these investments will drive the Group’s future prospects and position it to grow for years to come as he reported the group’s first quarter performance.
In Phoenix, the capex light expansion enabled the company to expand its retail presence into key Metro Manila locations during the pandemic, posting consistent double-digit volume growth and retaining its position as third biggest player in market share.
Phoenix LPG Philippines Inc.’s volume has doubled in the last five years underpinned by the company’s expansion in Luzon.
Escalona sees 2022 as a better year for Chelsea Logistics with higher revenue.
The freight segment maintained its steady growth with its revenues growing 23 percent year-on-year (YOY). The passage segment reported a strong YOY recovery with passage revenues up 124 percent with the easing of travel protocols.
DITO Telecommunity now has over 8 million subscribers, and is poised to cover more than 70 percent of the population.
Total system sales in restaurants Conti’s and Wendy’s under Eight8Ate enjoyed 29 percent and 72 percent growth versus 2021 respectively in the first quarter.
Escalona said Udenna Infrastructure will expand and diversify the capability and portfolio into managing telco services, to support and potentially add to the P1.5 billion 2022 yearend gross revenue targets.
The company intends to expand its existing portfolio of tower builds and fiber optic laying.
