URC's earnings fell 2% to P12.5 billion

Universal Robina Corp. (URC) reported a 2% decline in earnings for 2024, totaling P12.5 billion. Core net income also fell by 3% to P12.2 billion, reflecting a decrease from the previous year. Despite the earnings drop, URC's revenues grew by 3% to P161.9 billion. The branded consumer foods segment saw a 2% increase in sales, while the international segment rose by 8%. The agro-industrial and commodities group reported a 5% sales increase, driven by higher volumes. URC attributed the earnings decline to a higher base from the previous year and foreign exchange gains in 2023.