UNIVERSAL Robina Corp. on Friday said its net income for the first half reached P6.5 billion, which is lower than in the same period in 2021 due to the gains in sale of idle assets last year.
Its net sales hit a record high of P71.1 billion in the first half, up 23 percent compared to the same period in the previous year, URC said in a disclosure to the stock exchange.
“We are very pleased to see the strong performance of the business as we exit the first half of 2022 with record high sales. We anticipate sales momentum to be maintained as consumer demand continues to be resilient across the region,” URC president and CEO Irwin Lee said.
“At the same time, we are closely watching demand signals given the inflationary environment... We remain confident that we will be able to continue increasing our absolute profits as we couple strong topline growth with our reinforced cost savings initiatives,” Lee added.
URC’s portfolio includes Jack N’ Jill, Nissin Cup Noodles, and C2, among others.
July 30, 2022
- A A +
SunStar website welcomes friendly debate, but comments posted on this site do not necessarily reflect the views of the SunStar management and its affiliates. SunStar reserves the right to delete, reproduce, or modify comments posted here without notice. Posts that are inappropriate will automatically be deleted.
Do not use obscenity. Some words have been banned. Stick to the topic. Do not veer away from the discussion. Be coherent. Do not shout or use CAPITAL LETTERS!