MANILA, Aug. 7 (PNA) — Listed food and beverage firm Universal Robina Corp. (URC) booked an 11.8-percent hike in profit for the first nine months of 2015 fiscal year on the back of strong sales here and abroad.
URC’s net income from October 2014 to June 2015 reached Php9.65 billion from Php8.64 billion during the same period the previous year.
The firm reported an 18.3 percent sales growth during the nine-month period with net sales amounting to Php 81.94 billion, mainly driven by branded foods and complemented by sugar and feeds.
Sales of Philippine branded consumer foods (BCF) rose by 10.9 percent while International branded consumer foods recorded a 38.4-percent growth following results of consolidation of Griffin’s New Zealand in mid-November.
Beverage remained to be the main driver, backed by the continued growth of powdered beverage business mainly coming from coffee partly offset by the slower growth of ready-to-drink beverages due to capacity constraint.
Sales of our non-branded consumer foods group increased by 12.5 percent for the first nine months of fiscal year 2015 due to increase in sales volume for sugar and feeds which grew 39.4 percent and 19.9 percent, respectively. (PNA)