UNIVERSAL Robina Corp. (URC) said profit in the first nine months of the year reached P9.2 billion, down 11 percent from last year, as the company recorded lower forex gains in the period.
Core profit was down 5 percent, driven by higher tax provisions and finance costs.
Sales hit P118.9 billion, 1 percent higher on higher volume.
“Total operating income was at P12.3 billio n, behind by 3 percent,” it said.
URC said it posted lower profits in its sugar and renewables business as sugar prices continued easing.
“Net of its commodities businesses, URC sustained its double digit growth trajectory, recording an increase in operating income of 22 percent, as easing commodity costs and optimization initiatives supported the company’s margin expansion,” it said.
URC’s branded consumer foods posted sales of P81.8 billion.
The agro-industrial & commodities business posted revenues of P36.2 billion.
“As we begin to see early signs of a resurgent Philippine shopper in 2025, we will continue to offer the best value to our consumers through our wide portfolio of quality brands,” said Irwin Lee, URC chief executive officer.
