UNIVERSAL Robina Corp. (URC), the branded food-product arm of the Gokongwei group, reported that net profit rose 84.1 percent to P5.56 billion in fiscal year 2007 ending September, from P3.02 billion a year earlier.

Growth came as a result of higher sales. Consolidated sales amounted to P37.7 billion, up 7.2 percent in the same comparable period, bannered by higher sales in branded consumer foods, including the packaging division which grew to P28.37 billion, the company said in a filing with the stock exchange.

“This increase was primarily due to the 12.6 percent increase in net sales of URC’s domestic operations coming mostly from the impressive growth in sales of beverage and snack foods,” it said in the report to the exchange.

Agro-industrial revenues also improved to P5.65 billion, from P5.1 billion, on growth in the animal feeds business. Farm business also jumped 4.8 percent because of exceptional performance in the poultry section, higher selling prices and steady hog volumes.

Sales in commodity foods increased 5.6 percent to P3.70 billion in fiscal 2007, from P3.504 billion in fiscal 2006, mainly because of increased net sales from URC’s sugar business by 33.8-percent driven by higher volume.

Branded consumer foods are URC’s largest segment.

It contributed about 75.2 percent of revenues for fiscal 2007. Established in the 1960s, the division manufactures and distributes a diverse mix of snack, chocolate, candy, biscuit, bakery, beverage, noodles and tomato-based products.

Majority of its branded consumer foods business is in the Philippines.

However, in 2000, URC began to expand the business aggressively into other Asian markets like China, Malaysia, Thailand, Singapore, Indonesia and Vietnam.

The Asian operations contributed about 19.1 percent of the company’s revenues for fiscal 2007. 

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UNIVERSAL Robina Corp. (URC), the branded food-product arm of the Gokongwei group, reported that net profit rose 84.1 percent to P5.56 billion in fiscal year 2007 ending September, from P3.02 billion a year earlier.

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