BY ANGPING & ASSOCIATES SECURITIES
Profit of Universal Robina Corporation (URC) rose 15.2% in its 2014 fiscal year ending September on the back of strong sales here and abroad, according to its annual report. The firm made PHP 11.7 billion in its 2014 fiscal year, up from PHP 10.1 billion in the preceding year.
Growth was slower than operating income as the company booked lower non-recurring gains as most of its bond and equity holdings were liquidated in the prior year.
Sales jumped 14.1% to PHP 92.4 billion from PHP 81.0 billion, with its local and international sales increasing 24.1% and 7.8%, respectively.
Of this year’s PHP 9.0 billion capex, URC allocated PHP 6.5 billion for the expansion of capacities for its local snack and beverage businesses; new lines of beverage, snacks and candy products in Vietnam; as well as expansion of wafer and snack lines in Thailand and Indonesia.