The Gokongwei-owned Universal Robina Corp. registered a significant 23.6-percent increase in its net income to P10.12 billion for fiscal year 2013, or from October 2012 to September 2013.
Another Gokongwei-led firm, Robinsons Land Corp. (RLC), saw its fiscal year 2013 income growing by 5.6 percent, earning as much as P4.47 billion.
In its financial report filed at the Philippine Stock Exchange (PSE) on Tuesday, URC attributed the increase in its 2013 fiscal year income to higher other revenues, as it realized gains from the sale of its investment portfolio in January 2013, and reduced financing costs with the prepayment of long-term debt and some short-term debt and trust receipts.
URC’s operating income was at P10.3 billion for fiscal year 2013. This is
30.9 percent higher than the P7.9 billion posted in the prior year.
According to URC, relaxed input prices and higher sales volumes resulted in its margin expansion for branded foods, while its sugar business benefited from the early start of the milling season.
The listed firm also reported a 13.8-percent sales growth for fiscal year 2013, with net sales amounting to P80.9 billion versus the P71.2 billion recorded in the prior year.
URC’s Philippine branded consumer foods (BCF) business, as cited by the firm in its financial report, was the key contributor for total company growth as it increased sales by 22.8 percent for fiscal year 2013.
Meanwhile, BCF International accelerated its sales momentum by growing at 9.4 percent.
“Sales of our non branded foods segment specifically coming from sugar and farms also registered full year growth of 24.1 percent and 13.9 percent, respectively,” URC further mentioned.
At fiscal year end, URC was in a net cash position of P8.1 billion with a financial gearing ratio of 0.09 (vs. 0.32 in fiscal year 2012), as the company paid a significant portion of its debt.
The company also spent P5.5 billion in capital expenditures, as it added capacities and installed new capabilities across its Pan-Southeast Asia manufacturing facilities.
RLC income growth
Listed RLC saw its fiscal year 2013 income reaching P4.47 billion as all of its businesses managed to post significant profit increases.
The company’s operating income, on the other hand, grew 14 percent to P5.97 billion, while its earnings before interest, taxes, depreciation, and amortization, or Ebitda ended the fiscal year with a 15-percent growth to P8.43 billion.
RLC also generated total gross revenues of P15.90 billion for fiscal year 2013, an increase of 18 percent from the P13.52 billion recorded for fiscal year 2012.
The firm’s commercial centers division, which involves RLC’s malls across the country, accounted for P7.39 billion of its real estate revenues for fiscal year 2013 versus the P6.43 billion for fiscal year 2012.
According to the Gokongwei-led firm, Metro Manila malls led by Robinsons Galleria and Robinsons Place Manila contributed to the growth, while most provincial malls also posted decent growth in rental revenues.
For the company’s real estate business in general, it realized revenue growth of up to P5.58 billion versus the P4.30 billion it registered in the same period last year, for an increase of 29.76 percent.
Revenues of RLC’s office buildings division grew by 2.85 percent to P1.44 billion from P1.40 billion over the same period last year. This 2.85-percent increase in lease income was from improved or escalated rental rates of the leased spaces.
Meanwhile, RLC’s Hotels Division, a major contributor to the company’s recurring revenues, registered gross revenues of P1.5 billion against last year’s P1.38 billion. The 8-percent increase in the property firm’s hotel revenues was principally from higher occupancy rates.
The total assets of RLC stands at P74.89 billion for fiscal year 2013, a growth of 6 percent from the P70.65 billion of the previous fiscal year.
For the fiscal year 2013, the company spent as much as P13.2 billion in capital expenditure, which was sourced from a stock rights offering and internally generated funds.