URC net income in January-September declines on weak Q3 results

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URC net income in January-September declines on weak Q3 results - Business Mirror

Quick Summary:

Universal Robina Corp.(URC), the food unit of the Gokongwei Group, said its net income in January to September fell by 16 percent to P8.63 billion from the previous year’s P10.28 billion on weak performance in the third quarter.

Revenues were slightly down to P38.13 billion from the previous year’s P38.84 billion.

The company said “higher comparables from gain on land sale” in 2022 had an impact on its financial results last year.