Universal Robina Corp. (URC)’s attributable profit fell by 12% in the first quarter of 2018, as the cost of raw materials, manufacturing, and direct labor outpaced the minimal sales growth for the period.
In a regulatory filing on Monday, April 29, the Gokongwei-led food and beverage manufacturer reported a net income attributable to the parent of P2.95 billion in the first three months of the year, lower than the P3.37 billion it booked in the same period a year ago.
Revenues grew by 1.6% to P31.2 billion, driven by the international operation of its branded consumer foods (BCF) segment. The international arm improved its sales by 9.6% to P10.8 billion for the quarter, or 6.5% to $209 million in terms of US dollars.
“Topline growth came from Vietnam, Malaysia, and SBA. Vietnam is still on its path to recovery with C2 and Rong Do showing continued momentum, as well as biscuits and candies both registering strong performance,” the company said.
The local market meanwhile was met with headwinds for the January to March period, as net sales slowed by 4.6% to P14.3 billion. URC attributed the decline to the underperformance of snacks and total beverages, as well as lower volumes in the coffee category. — Arra B. Francia

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