Universal Robina Corporation (URC) posted a 1 percent year-on-year increase in sales for the nine months ending 30 September 2024, reaching P118.9 billion, driven by volume-led growth but tempered by product mix and foreign exchange fluctuations. Operating income was P12.3 billion, down 3 percent from the previous year, with lower profits from the sugar and renewables segments due to easing sugar prices.
Despite these challenges, URC’s core businesses outside of commodities showed strong performance, with operating income up 22 percent, driven by lower commodity costs and optimization efforts. Net income from continuing operations dropped 11 percent to P9.2 billion, impacted by reduced forex gains and higher tax provisions.
In the branded consumer foods (BCF) segment, sales reached P81.8 billion, up 2 percent, with strong growth in ready-to-drink beverages and bakery products. The agro-industrial & commodities (AIC) division recorded P36.2 billion in revenue, up 2 percent, though growth was constrained by weaker hog feed volumes.
Looking ahead, URC CEO Irwin Lee expressed optimism, highlighting early signs of a consumer rebound in 2025 and the company’s commitment to offering value across its product range.
