Universal Robina Corporation (URC) reported PhP67.17 net sales and services in 2011

Universal Robina Corporation (URC) reported 16.4% growth in net sales and services of Ph67.17 billion for its fiscal year ended 30 September 2011 from Php57.72 billion last year led by the International branded consumer group and its sugar division. Universal Robina Corporation (URC) remained the biggest revenue contributor of the JG Summit Holdings, Inc. accounting for 54.7% of the  URC's total revenues in 2011. The branded consumer food group generated Php48.79 billion in revenues, a 15% increase from last year, on the back of the 6% weighted average increase in selling prices of its products and 3 1.4% growth in URC International’s net sales. The Commodities Group recorded net sales of Php9.53 billion in 2011, a 30% growth from last year, brought about by higher sales volume and prices of sugar. The Agro- Industrial Group registered lower net sales at Php7.08 billion in 2011 from Php7.17 billion in 2010 on weak selling prices. On high input costs, EBIT (earnings before interest and taxes) margin fell by 300bps. With this, EBITDA declined by 7% to Php10.16 billion from Php10.96 billion in 2010, and net income attributable to equity holders of the parent declined 41% to Php4.64 billion from Php7.82 billion last year. Despite the weak earnings performance, the company’s net income was the largest contributor to the URC's net income from continuing operations at 35% in 2011. - https://www.affordablecebu.com/