Universal Robina Corp. (URC) recorded profit of P3.6 billion in the first quarter, up 20 percent from P3 billion in the same period last year.
Sales reached P35.8 billion, up 22 percent from P29.34 billion.
URC said it registered a “accelerating momentum” of sales as demand for its products improved.
“We are heartened by the accelerating growth trajectory of the company, as the economy has opened up and consumers see a return to normalcy. On the cost side, we continued to face challenges from volatile global commodity prices, which we expect to remain choppy throughout the year. Despite these headwinds, we will continue to serve our customers and consumers to the best of our abilities, staying agile and nimble through shifts in the market, and focus on our company’s purpose: to delight everyone with good food choices,” said Irwin Lee, URC president.
The sales in its branded consumer foods (BCF), including packaging, hit P25.4 billion.
BCF Philippines recorded its highest monthly and quarterly sales in history with revenues at P17.6 billion, up 15 percent. URC said consumer demand improved on the back of the reopening of the economy.
BCF international posted revenues of P7.8 billion, up 41 percent, driven by the strong momentum of Indonesia, Thailand and Vietnam, and the consolidation of Munchy’s, URC’s newest acquisition in Malaysia.
