URC net income up 8% in H1

During the six-month period, URC’s operating income climbed 16 percent to P8.6 billion, which the food and drinks manufacturing giant attributed to “resilient consumer demand across the region”.

“Margins expanded versus last year despite generally higher commodity costs, as the company saw the full year impact of the necessary pricing moves executed in 2022,” it said in the statement. URC’s branded consumer foods division booked sales of P54.1 billion during the period. The Philippines segment grew 7 percent to P37.4 billion in sales while international revenues were up 7 percent to P16.8 billion, driven by businesses operations in Vietnam, Malaysia, and Myanmar.

Moreover, agro-industrial & commodities sales surged 23 percent to P23.8 billion, driven by higher selling prices. “The company will continue to prioritize profitable growth on the back of our strong brands and consistent operating discipline. No matter the external environment, URC takes pride in continuously delighting consumers with good food choices,” Lee said.Subscribe to our daily newsletter

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