Universal Robina Corp. (URC) posted profits of P24.3 billion last year, up 109 from the prior year’s P11.63 billion.
Sales, excluding the Oceania operation, rose 3 percent to P117 billion from P113.59 billion.
URC in July last year sold its interest in its Australia and New Zealand operations.
The company said the sale of the Oceania operation “provided an opportunity for URC to monetize the efficiencies and synergies it created in Australia and New Zealand, while reinvesting into higher-growth core markets such as the recently acquired Munchy’s business in Malaysia.”
URC reported its sales momentum accelerated in the latter half of last year, with fourth quarter sales up 12 percent from the prior quarter and up 11 percent from the same period the previous year.
URC said its branded consumer foods group posted sales of P83.5 billion, flat from the prior year, as “key food and beverage markets, while slowly recovering, were still below pre-pandemic levels and aggravated by various lockdowns imposed across the region.
