URC president and COO Lance Gokongwei told reporters during the company’s stockholders meeting that their revenue target remains on track, registering a 10 percent growth in the first six months of its fiscal year which ends September.
He said the revenue stream will be provided by its extensive product lineup, boosted by the introduction of more of its branded food products to markets in China and ASEAN.
URC has programmed to spend P2.5 billion this year for the addition of two new overseas plants and the expansion and modernization of two other domestic facilities.
The two new plant facilities set to open next month are the confectionery plant in Shanghai, China and a similar confectionery and snack food facility in Jakarta, Indonesia.
URC maintains a strong regional presence with manufacturing plants already established in Thailand, Malaysia and Guangdong, China. In addition, the company has a marketing and distribution network in Hong Kong and Singapore.
With most of its products gaining respectable market shares in the region, Gokongwei said the company will focus on making it the first Filipino-owned branded food powerhouse in Asia.
He added the company’s expansion of its international business will be complemented by its steady brand building at home, with work centered this year on the expansion of its flour factory in Pasig and the doubling of the capacity of its plant in Batangas, which makes flexible packaging materials used in food snacks.
URC manufactures a wide array of snack foods, candy, chocolate and biscuits – all of which are market leaders in their respective categories. These brands include Jack & Jill, Presto, Cloud 9, Great Taste, Blend 45, Hunt’s, XO, Maxx, Payless, Swiss Miss, and Magic Flakes.
In the three months ending March this year, URC posted consolidated net sales of P5.54 billion, an increase of 22 percent from a year ago.
Net income subsequently improved 17 percent to P404 million, from P345 million in the same period last year.