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By JAMES A. LOYOLA
Universal Robina Corporation’s unaudited consolidated net income for the first half of fiscal year 2007 (October 2006 to March 2007) reached P4.12 billion, 181 percent higher than the P1.47 billion reported in the same period last year.
This includes a P2.86 billion gain from sale of investment of URC in Robinsons Land Corporation shares, and P435 million impairment loss provision for URC-BOPP machines and equipment.
On a recurring basis, URC’s net income amounted to P1.54 billion, or 5.2 percent higher than the amount reported in the same period last year.
"We are pleased with the continuing strong performance of URC. We continue to see gains from the growth of our beverage business in the Philippines and the continuing expansion of our business in Thailand and Vietnam," said URC President Lance Gokongwei.
He added that URC will continue to launch new products, aggressively build its brands with sustained advertising spend, and aim to complete some more new acquisitions.
URC’s consolidated net sales and services for the six months ended March 31, 2007 amounted to P18.31 billion, a 1.5 percent growth from P18.05 billion in the same period last year.
The largest contributor to the group’s sales revenue, URC’s Branded Consumer Food Group’s (BCFG) domestic operations, reported a 9.4 percent sales increase to P9.68 billion, due to the 20 percent increase in sales volume.
Beverage, accounting for 24.1 percent of BCFG domestic sales at P2.34 billion, continued its strong growth, posting a 55.1 percent growth in sales value and 69.7 percent increase in volume.
Faced with a decline in category growth, sales of snackfoods improved to P5.84 billion boosted somewhat by domestic consumption recovery and election spending.
BCFG international sales were down by 7.4 percent to P3.77 billion primarily due to lower revenues from China, Indonesia, Singapore and Malaysia operations and the strengthening of the peso. In US dollar terms, however, sales were maintained at around $ 77 million in the first six months of this fiscal year.
Thailand posted revenue growth of close to 30 percent in dollar terms and Vietnam sales were buoyed by healthy snack and beverage sales. China sales were down as a result of the scaling back of business activities in order to rationalize operating costs. | 
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