URC nets P8.3B

GOKONGWEI-led industrial powerhouse Universal Robina Corp. grew its net profit by 28.8 percent year-on-year to P8.27 billion in the six-month period ending March, buoyed by higher sales of branded consumer food business.

This refers to net profit attributable to equity holders of the parent firm, excluding the share in the net income attributable to the non- controlling interest of Nissin-URC, URC’s 51 percent-owned subsidiary.

Cash flow as measured by earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 10 percent year-on-year during the first six months of its fiscal year to P11.98 billion, URC disclosed to the Philippine Stock Exchange on Wednesday.

Apart from the higher operating income, URC benefited from higher market valuation gain on financial assets and net foreign exchange gains.

URC generated a consolidated sale of goods and services of P58.538 billion for the six months ended March, marking a 5.2 percent sales growth over the same period last year.