GOKONGWEI-LED Universal Robina Corp. (URC) reported a 2% decline in first-quarter (Q1) net income to P4.3 billion, as last year’s figure was boosted by higher foreign exchange gains.
Despite the lower net income, core net income rose by 4% to P4.1 billion because of reduced costs, the company said in a disclosure to the stock exchange on Thursday. Operating income also grew by 1% to P5.5 billion.
First-quarter consolidated sales increased by 7% to P45.3 billion, driven by volume growth across most business segments.
“We are starting the year on a high note, delivering impressive volume growth across our key branded businesses in the first quarter of 2025,” URC President and Chief Executive Officer Irwin C. Lee said.
Sales from the branded consumer foods (BCF) segment rose by 6% to P29.7 billion. BCF Philippines registered a 4% increase in sales to P20.1 billion, led by double-digit volume growth in ready-to-drink beverages, snacks, and confectionery products.
BCF International sales expanded by 10% to P9.6 billion, as Vietnam posted double-digit growth, while Malaysia and Indonesia showed steady improvements.
“The international business continued to sustain its momentum and deliver above market growth, despite the weak ASEAN sentiment and tariff uncertainties in export-oriented economies,” URC said.
The agro-industrial and commodities segment posted an 8% increase in sales to P15.6 billion, with higher volumes in sugar and flour offsetting weaker demand for animal feeds.
“As overall consumer confidence and sentiment improve, we look forward to accelerating our forward momentum and continuously improving URC’s performance,” Mr. Lee said.
“We will continue to create and sell trusted products that people love, with the best innovations at the best prices, while staying true to our mission: to delight our customers and consumers with good food choices,” he added.
Shares in URC fell by 1.73% or P1.50 to close at P85.40 apiece on Thursday. — Revin Mikhael D. Ochave
