Food manufacturer Universal Robina Corp (URC) said Monday it posted a net income to P12.5 billion in 2024, down 2 percent from 2023.
Core net income, which excludes one-off items, reached P12.2 billion, also lower by 3 percent than a year ago, URC said in a disclosure to the stock exchange.
Consolidated sales amounted to P161.9 billion in 2024, up 3 percent year-on-year, with volume growth seen across all divisions.
Total operating income ended at P16.7 billion, down 4 percent year-on-year, pulled down by lower profits from the sugar and renewables businesses.
Sales from branded consumer foods ended at P109.5 billion in 2024, up by 2 percent from a year ago level, boosted by international business.
Domestic branded consumer food sales ended flat at P74.7 billion even as most categories posted both volume and value growth.
URC said value-for-money segments continued to grow faster than the rest of the portfolio, given the challenging macroeconomic environment faced by consumers.
International branded consumer food delivered sales of P34.8 billion, which rose 8 percent year-on-year as all overseas business units delivered strong volume and value growth, despite the generally tepid consumer sentiment seen across Southeast Asia.
URC’s agro-industrial and commodities unit recorded a 5-percent growth in sales to P51.3 billion as higher volumes across most of its segments offset competitive price adjustments in feeds and flour.
Meanwhile, URC also announced a dividend of P2 per share to stockholders on record as of April 11, 2025, with payout on May 9, 2025. Dividend is 5 percent higher than the same period last year.
“We delivered strong cash generation and dividend growth while pivoting to stronger volume growth recovery, as consumer sentiments improve after absorbing multi-year inflationary pressures. We expect further improvements in URC’s growth momentum going forward as we continue to provide new product innovations and better value offers to delight our customers and consumers with good food choices,” URC president and chief executive Irwin Lee said.
