Universal Robina net drops 12% to P12.8B

By Ed Paolo Salting

Mar 15, 2024 12:17 am

FOOD and beverage company Universal Robina Corp. reported a 12-percent decline in 2023 net income, to P12.80 billion from P14.50 billion in 2022, due to the absence of one-off gains from a land sale booked in the previous year.

Core income, however, rose 6 percent to P12.60 billion, driven by operating income growth but tempered by higher interest rates.

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