URC earnings down 2% to P12.5B in 2024

URC bottom line down 2% in 2024. INQUIRER FILE PHOTO

MANILA, Philippines – Coming from a higher base the previous year, earnings of Gokongwei-led Universal Robina Corp. (URC) dipped by 2 percent to P12.5 billion in 2024.

In a regulatory filing on Monday, the Gokongwei-led snack food maker said its core net income, which excludes nonrecurring gains, was likewise down by 3 percent to P12.2 billion.

Revenues also posted a modest 3-percent growth to P161.9 billion.

According to URC, higher foreign exchange gains in 2023 led to its flat bottom line.

Broken down, the branded consumer foods group booked P109.5 billion in sales, representing a 2-percent growth as higher volumes offset macroeconomic challenges.

The international segment delivered sales of P34.8 billion, up by 8 percent.

The agro-industrial and commodities group, meanwhile, ended the year with P51.3 billion in sales, up by 5 percent, on higher volumes across most of its segments.