Universal Robina Corporation (URC) posted sales of Php 78.6 billion for the first six months ending June 30, 2023, up 11% vs. the same period last year, and sustaining its growth momentum from 2022. All businesses continued to grow, signaling resilient consumer demand across the region.

Operating income for the first half improved faster than topline, increasing 16% vs. the same period last year to hit Php8.6 billion. Growth for the second quarter accelerated to 18%. Margins expanded versus last year despite generally higher commodity costs, as the company saw the full year impact of the necessary pricing moves executed in 2022. Net income was up 8% at Php 7.0 billion, with the second quarterrecording an 18% increase, in line with operating income growth. Core net income was up 11% versus same period last year.

URC’s financial position remains strong, with a healthy cash balance of Php11.4 billion, net debt of Php8.6 billion and a low gearing ratio of 0.18.