MANILA — Universal Robina Corp said on Friday its net income in the first quarter of 2023 reached P3.6 billion, while sales grew 11 percent to P39.8 billion.

All businesses delivered strong growth despite the elevated inflation while core net income was up 11 percent, the Gokongwei-led firm said in a disclosure to the stock exchange.

"We are pleased that we were able to pick up where we left off in 022 and continue our strong performance into the first quarter of 2023, despite inflationary pressures on consumer demand and continuing volatility on input costs," URC President and CEO Irwin Lee said.

Branded Consumer Foods (BCF) recorded sales of P26.9 billion for the period, URC said. Meanwhile, agro-industrial and commodities (AIC) business sales grew 20 percent to P12.4 billion, it added.

• URC net income jumps 109 percent to P24.3 billion in 2021
• URC net income up 20 pct in Q1 to P3.6 billion
• URC posts higher Jan-Sept net income despite pandemic disruptions

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