May 16, 2007
Updated 11:29:57 (Mla time)
MANILA, Philippines -- Universal Robina Corp.'s (URC) consolidated net profit for its financial first half ended March jumped 181 percent to P4.12 billion from a year earlier, boosted mainly by the one-time gain from the sale of its investments in affiliate Robinsons Land Corp. and growth of some of its business segments.
For the second quarter ended March, net profit totaled P510 million while consolidated net sales reached P9.1 billion. The company did not provide further details on its second-quarter performance.
For the first half to March, URC said net sales of its branded consumer foods segment, including the packaging division, rose 4.1 percent to P13.45 billion.
"This increase was primarily due to the 20 percent increase in net sales of domestic operations," the company said in notes accompanying its results.
However, net sales of its international operations in the first half dipped 7.4 percent to P3.7 billion due to lower revenues from
Net sales in URC's agro-industrial segment rose 12.1 percent to P2.6 billion in the first half, while net sales in its commodity foods segment were down 19.4 percent at P1.64 billion.
URC is the food arm of conglomerate JG Summit Holdings Inc.
http://services.inquirer.net/express/07/05/16/html_output/xmlhtml/20070516-66228-xml.html
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