Universal Robina Corp. (URC) recorded profit of P11.2 billion in the first nine months of the year, up 38 percent from last year’s P8.11 billion.
Sales amounted to P102.6 billion, up 3 percent from P99.61 billion.
Operating income continues to be challenged by higher input costs and production inefficiencies brought about by COVID-related supply disruptions in several markets, the company said.
URC said sales of domestic and international branded consumer foods reached P78.3 billion, up 1 percent from last year.
“Domestic revenues declined 5 percent versus last year to close at P44.2 billion, as 2020 included a higher base from pantry-loading and consumer demand in the Philippines remain depressed,” it said.
The branded consumer business’ international division meanwhile posted revenues of P32.9 billion, up 9 percent, with Indo-China and Indonesia leading the growth.
The sales in agro-industrial & commodities meanwhile hit P24.2 billion, up 9 percent from last year, driven by the commodity foods group’s strong performance.
