Universal Robina Corporation starts off strong, but the coronavirus crisis disrupts its growth trajectory in the 1st quarter of 2020. COVID19PH
In a disclosure to the Philippine Stock Exchange on Wednesday, April 29, URC said it ended the 1st quarter with a sharp dip in its net income to P2.1 billion.
The Gokongwei-led food and beverage conglomerate said strong January and February performance helped cushion the economic impact of the enhanced community quarantine implemented since mid-March. Sales of domestic and international branded consumer foods contributed P25.7 billion. Domestic revenues increased by 3% as snacks and noodles drove growth for the quarter.
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