URC nets P3.25B in Oct-Dec 2014

GOKONGWEI-led Universal Robina Corp. grew its net profit for the quarter ending December 2014 by 12.6 percent year-on-year to P3.25 billion, driven by the double-digit rise in branded consumer food and sugar businesses.
The performance for the October to December 2014 period, the first quarter in URC’s fiscal year, was driven by an 18.7-percent growth in sales. The branded foods and sugar businesses grew respectively, by 20.3 percent and 28.7 percent.
Philippine branded consumer foods business boosted sales by 16.9 percent while the international business recorded a 27-percent growth with the consolidation of the results of Auckland-based Griffin Foods Ltd. starting mid-November upon closing of the acquisition. URC acquired Griffin’s, New Zealand’s leading snack food manufacturer, for about NZ$700 million (P26.37 billion).
Sales of the non-branded consumer foods group increased by 10.8 percent year-on-year for the quarter on the back of higher sales volume for sugar.