MANILA -- Universal Robina Corporation on Friday said its net income climbed 8 percent to P7 billion in the first half of 2023.

The food and beverage business also reported that sales went up 11 percent to P78.6 billion from January to June.

The company said margins expanded versus last year despite generally higher commodity costs, as they saw the impact of price adjustments made in 2022.

URC said that in the Philippines, their branded consumer foods business saw revenues rise 7 percent year-on-year to P37.4 billion.

Their international branded consumer foods business, meanwhile, also grew 7 percent to P16.8 billion, driven by growth from Vietnam, Malaysia, and Myanmar.

• Universal Robina Corp posts P3.6-billion net income in Q1

Sales of their agro-industrial and commodities divisions also reached P23.8 billion, growing 23 percent year on year.

• JG Summit books P4.4 billion net income in Q1
• URC acquires idle sugar milling equipment to expand capacity

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