Universal Robina Corp.(URC) posted a 19-percent drop in profit in the first half of the year to P6.48 billion from P8.04 billion in the same period in 2021.
Sales hit P71.1 billion, up 22.9 percent from P57.88 billion.
“The company’s strong sales momentum has continued with all business units showing double-digit growth,” URC said.
“The company recorded P7.4 billion in operating income for the first half, up 2 percent versus the same period last year. Absolute profits were recovered as planned despite material cost increases and the strengthening of the US dollar,” URC said.
URC said its branded consumer foods (BCF) posted sales of P50.7 billion, up 27 percent.
BCF Philippines posted sales of P35.1 billion, up 20 percent.
“Consumption and demand signals remain strong, with most categories exhibiting strong double-digit growth,” it said.
BCF International posted revenues of P15.6 billion, up 43 percent.
“We are very pleased to see the strong performance of the business as we exit the first half of 2022 with record high sales. We anticipate sales momentum to be maintained as consumer demand continues to be resilient across the region. At the same time, we are closely watching demand signals given the inflationary environment. As we continue to navigate global headwinds, we remain confident that we will be able to continue increasing our absolute profits as we couple strong topline growth with our reinforced cost savings initiatives,” said Irwin Lee, URC president.
