URC sees infusions to maintain momentum

While the challenges and uncertainties of hyper-cost inflation, global climate, and political turbulence persist, our growth momentum and organizational commitment to excellence give us cause for optimism in 2022

Universal Robina Corporation (URC) will continue to invest in its brands this year to sustain its growth momentum following a strong growth in its bottom line last year.

“While the challenges and uncertainties of hyper-cost inflation, global climate, and political turbulence persist, our growth momentum and organizational commitment to excellence give us cause for optimism in 2022,” URC president and CEO Irwin Lee said.

“We will continue to invest in our brands, build channel strength, make future bets in attractive white spaces, and operate efficiently and sustainably, all towards future-proofing our growth. URC remains strong today, and will be stronger tomorrow,” he added.

Profit up 109%

Based on its unaudited 2021 results, URC closed 2021 with a net income of P24.3

billion, 109 percent higher than its reported bottom-line growth in the previous year.

The company said the growth was driven by the gain from the sale of its Oceania business.

The sale provided an opportunity for URC to monetize the efficiencies and synergies it created in Australia and New Zealand while reinvesting into higher-growth core markets such as the recently acquired Munchy’s business in Malaysia.

Sales, excluding Oceania, posted growth of 3 percent for the full year to reach P117.0 billion, with continuing limitations on mobility, consumer sentiment, and supply chain disruptions from the second year of the Covid-19 pandemic, especially the Delta variant wave.