Connect with us

Hi, what are you looking for?

Economy

URC named top exporter for food and beverage sector

FOOD MANUFACTURER Universal Robina Corp. (URC) was recognized by the Department of Trade and Industry (DTI) as the country’s top exporter for the processed food and beverage sector.

In a statement, the Gokongwei-led company said it was selected by DTI as the leading exporter for the said sector during the National Export Congress held on Dec. 3.

URC said the recognition as top exporter was based on 2019 data from the Philippine Statistics Authority (PSA) that showed the value of its export transactions.

“The company’s export transactions reached approximately $30 million that year,” URC said.

Brian M. Go, URC Vice President for Global Exports and Frontier Markets, said exporters are still pushing forward despite the effects of the coronavirus disease 2019 (COVID-19) pandemic to local and global trade.

“This recognition for our hard work and dedication to our customers is especially meaningful, given the challenges businesses, and our nation as a whole, are facing because of the COVID-19 pandemic,” Mr. Go was quoted as saying.

Through its Exports Group, URC ships its products, such as Jack n’ Jill snacks, Great Taste instant coffee, and C2 ready to drink tea, to 38 countries around the world.

In 2019, the company created a Global Exports business unit in charge of the worldwide distribution of both URC Philippines and URC International-sourced products.

The said business unit combined URC’s regional sales team and consolidated other export departments into one global export team.

According to URC, its Global Export business unit ships to areas in North America, Europe, the Middle East, Africa and Indian Ocean islands, North Asia, and Oceania and the Pacific Islands. Its Philippine office also distributes its products to affiliate URC companies in Singapore, Hong Kong, and Malaysia.

URC posted a 6% increase in its attributable net income to P1.97 billion in the third quarter due to lower debt and higher operating income. — Revin Mikhael D. Ochave

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

GROSS BORROWINGS by the National Government had reached P2.75 trillion as of end-October as it continued to raise money for its pandemic response, preliminary...

Economy

By Luz Wendy T. Noble, Reporter THE PHILIPPINE Statistics Authority (PSA) said the base year for the consumer price index (CPI) will change to...

Economy

SOME INDIAN COMPANIES, including those from the pharmaceutical industry, are interested in investing in economic zones in the Philippines, according to an India Business...

Economy

By Keren Concepcion G. Valmonte, Reporter HOSPITALITY GROUPS expect a rebound in tourism as coronavirus disease 2019 (COVID-19) vaccination rates continue to improve and...

Economy

BUSINESSWORLD’s Luz Wendy T. Noble was recognized as the Best Reporter of the Year for Banking at the 30th annual awards of the Economic...

Economy

THE Securities and Exchange Commission (SEC) has flagged eight more entities in separate advisories for their unregistered investment solicitation programs. These offerings are PH...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.