Philippines-based food group Universal Robina Corp. today (7 September) confirmed that it expects its annual revenues to rise by up to 15% on the back of higher overseas sales.
In a statement to the Manila stock exchange, URC supported comments in the Philippines press from company president Lance Gokongwei that predicted better international sales growth in 2010.
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“We’re on track. We expect the international business to grow nearly 30% this year,” Gokongwei said yesterday, according to The Manila Times. Gonkongwei had predicted growth of 25%.
The newspaper also said that URC expects group revenue to rise by 14-15% this year and, in its statement to the Manila stock exchange, the company confirmed both the international and company-wide forecasts.
Last month, URC said international sales of its branded consumer foods had reached PHP10.65bn (US$238.8m) in the first nine months of 2010, up 24.7% on a year earlier. Operating income from the division stood at PHP1.06bn, more than double the level seen in the first nine months of 2009.
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URC, based in the Philippines, sells consumer food brands across Asia-Pacific, including in Thailand, Indonesia and Malaysia.
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By GlobalDataThe group also has agricultural and commodity interests in the hog, poultry, flour and sugar sectors.
