Food manufacturer Universal Robnina Corp. earmarked P7.2 billion in 2017 capital expenditures primarily to expand existing facilities both here and abroad.
URC said in a filing with the stock exchange P4.8 billion was allocated for the expansion of capacities and improvement of handling, distribution and operational efficiencies throughout the branded food business.
These include the construction of a new factory in Malaysia, a new candy plant in Thailand, a new biscuit line in Indonesia, a bottle-making equipment in Vietnam and a mega warehouse in the Philippines.
URC allotted P1.45 billion for commodity foods group for flour mill construction, sugar business expansion and maintenance capital expenditures.
Another P950 million was appropriated for agro-industrial group for sow level expansion, farm improvement and handling facilities for feeds division.
URC in its fiscal year 2016 spent P7.81 billion for installation of new wafer and coffee mixing lines, rehabilitation/upgrade of beverage facilities in the Philippines and construction of warehouse and coffee manufacturing facilities in Vietnam.
URC said net income attributable to equity holders of the parent increased 22.3 percent to P15.14 billion in fiscal year 2016 from P12.38 billion a year earlier, despite the decline in sales from international operations.
Consolidated revenues rose 2.4 percent in the fiscal year ending September 2016 to P111.63 billion.
Sales from URC’s branded consumer foods segment, which accounted for the bulk of total revenues, went up slightly to P91.37 billion from P90.73 billion a year ago.
