Listed homegrown snacks and beverage manufacturer Universal Robina Corp. (URC) posted a 15.2-percent growth in net income for its fiscal year ending in September driven by strong sales in its branded food products and gains on investments.
In a disclosure to the stock exchange, URC said its net income climbed to P11.65 billion from P10.12 billion a year earlier, while net sales grew 14.1 percent to P92.38 billion from P81 billion.
URC has three business segments: branded consumer foods (BCF) which account for 82.4 percent of total sales; non-branded consumer foods which comprise the agro-industrial group; and the commodity foods segment.
BCF sales, excluding the packaging division, went up 18.5 percent to P76.128 billion from the previous year on strong sales from frontline brands C2, Piattos and Cloud 9.
Sales of the agro-industrial group also increased 11 percent to P8.2 billion on the strong performance of the farm and feeds businesses, which grew 11.2 percent and 10.6 percent, respectively.
Meanwhile, sales of the commodity foods segment declined by 15.4 percent to P6.94 billion compared to the year before on a 34.1 percent drop in sugar revenues.
Actual capital expenditure for the whole year was P7.7 billion with additional investments in new facilities and capacities across the company’s branded foods business, bio-ethanol facilities and biomass cogeneration.
Gokongwei-led URC manufactures leading brands for salt-flavored snacks, candies, chocolates, and ready-to-drink tea under the C2 green tea and Jack N’ Jill brands, while it is the number two player in the coffee segment.