Universal Robina increases 15% in net income amidst COVID-19 pandemic

URC thrives and survives

Faith Baltazar

4 Mar, 2021

Universal Robina increases 15% in net income amidst COVID-19 pandemic | BEAMSTART News

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Universal Robina Corporation (URC), a food and beverage company in the Philippines reports a 15% growth in net income skyrocketing to P11.6 billion last year.

The COVID-19 outbreak that struck last year has dramatically affected the trading conditions and consumer sentiments of Universal Robina; market contractions were also observed from other competitors of the company.

Despite these circumstances, URC held ground in sales and gained significant shares in the market which resulted in a 7 percent increase in operating income compared to 2019.

Moreover, the firm managed to reach P133.1 billion net sales last year due to lower debt and interest expenses, lower foreign exchange losses, and growth in operating income.

“The best response to the challenges we face with this crisis is to push forward, not to pull back. We are focused on better serving our consumers, our customers, and our communities,” says URC President Irwin Lee.

Even though domestic revenues grew flat at P61.2 billion because of the decline in some food and beverage categories, URC was able to rise above this by increasing its market share in key categories.

Lee assures the public that URC shall remain well-positioned especially in the new-normal situation through adjusting along with the ever-changing customer trends - giving everyone a delight with great food choices.

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