URC sets P9-B capex for 2015

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Snacks and beverage company Universal Robina Corp. (URC) will invest the bulk of its P9-billion capital expenditure (capex) allocation for 2015 in its core business, planning to expand its capacity by installing new product lines in its home country, the Philippines, as well as in Vietnam, Thailand, and Indonesia.

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In its annual report, the Gokongwei-led C2 and Jack N’ Jill maker said P6.5 billion of its P9 billion capital spending this year will be for the installation of new lines in its snack and beverages segments in those countries.

The P9-billion capex for 2015 is 16.9 percent higher than the P7.69 billion actual capital spending last year.

The company said P2 billion of the capex will be allotted to the commodity foods group for completion of its power cogeneration and flour plants, and for their maintenance; while the remaining P500 million will go to the agro-industrial group, which will provide for farm improvements and handling facilities for the feeds division.

URC recorded a 15.2-percent advance in net income for the fiscal year ending in September to P11.6 billion from P10.1 billion a year earlier, while revenue went up 14.1 percent to P92.4 billion from P81 billion.

URC has three business segments: branded consumer foods (BCF) which contribute 82.4 percent to total sales; non-branded consumer foods which comprise the agro-industrial group; and the commodity foods segment.

The company manufactures the leading Jack N’ Jill brand of salt-flavored snacks, candies, chocolates, and ready-to-drink C2 green tea, while it is the number two player in the coffee segment.

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