URC profit up on strong beverage sales

MANILA, Philippines — Beverage sales lifted the net income of Gokongwei-led Universal Robina Corp. (URC) in October to June.

The food and beverage unit of JG Summit Holdings Inc. — whose current fiscal year started in October 2012 and will end in September — said in a statement that its net income rose 38.7% in the 9-month period to P8.5 billion from P6.13 billion in the same period of its last fiscal year.

Great Taste coffee and C2 ready-to-drink (RTD) products were the key drivers of URC’s net sales amounting to P60.09 billion, up 13.3% from P53.05 billion the previous year.

Overall, URC said its Philippine branded consumer food businesses enjoyed a 22.4% jump in sales.

URC remained the dominant market player in salty snacks, candies, chocolates and RTD tea in the country.

International sales of URC’s branded food and beverage products grew 10% to $387 million (P15.94 billion). Key drivers were:

• Vietnam – C2 remained the top RTD tea brand in this country, with another RTD beverage Rong Do helping boost the sales; the buildup of snackfoods businesses also contributed to sales
• Indonesia – Salty snacks and chocolates were significant drivers of sales 
• Thailand – URC continued to be the market leader on wafers and biscuits amid the country’s slow pace towards recovery

– Rappler.com