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Manila Bulletin devider Business devider The Stock Market devider Sugar price slump drags down URC's bottom line in Q1

Sugar price slump drags down URC's bottom line in Q1

Published May 7, 2026 03:57 pm
Universal Robina Corp., the food and beverage arm of the Gokongwei family’s JG Summit Holdings Inc., reported a four percent decline in first-quarter net income from continuing operations to ₱4.1 billion as lower sugar prices weighed on its commodities segment.
In a disclosure to the Philippine Stock Exchange, the firm said core net income attributable to equity holders of the parent slipped two percent to ₱3.8 billion during the period ended March 31.
The drop in profitability tracked a two percent decrease in total operating income, which settled at ₱5.4 billion.
Despite the bottom-line pressure, URC posted a six percent increase in consolidated sales to ₱47.9 billion. The top-line growth was fueled by higher volumes in its domestic branded consumer foods business and robust contributions from its agro-industrial units.
“We started the year with strong, volume-led growth, led by BCF Philippines, reflecting accelerating momentum and continued excellence in execution,” Irwin Lee, URC president and chief executive officer, said in a statement.
Lee noted that the company is currently balancing “targeted demand support with margin recovery.” However, he cautioned that external risks remain on the horizon. “We remain mindful that any inflationary spillover from the Middle East conflict could pressure consumer demand, and we will stay agile—managing pricing, mix, and costs carefully to sustain momentum,” he added.
The company’s Branded Consumer Foods (BCF) segment, its largest revenue contributor, saw sales rise nine percent to ₱32.2 billion.
Within this division, Philippine operations grew 10 percent to ₱22 billion, supported by broad-based volume expansion and the residual impact of price increases implemented last year. The international BCF business reported a 6% increase in revenue to ₱10.2 billion, which the company attributed to resilient demand in key markets, particularly in Malaysia through its Munchy’s brand.
Revenue from the Agro-Industrial and Commodities (AIC) group remained flat at ₱15.7 billion. While the Animal Nutrition and Health sub-segment surged 22 percent and the flour division grew 17 percent following the ramp-up of the new Sariaya flour mill, these gains were offset by weakness in the sugar and renewables business. The company said that unit was dragged down by lower selling prices for sugar and reduced utilization rates at its distillery operations. (James A. Loyola)

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