Philippines:The food retailer URC has achieved a remarkable milestone, attaining record sales.

The 2022 pre-audit earnings report for Universal Lovina (URC), the food arm of the Gokongwei conglomerate, showed total sales of 149.9 billion pesos, up 28 percent from the previous year, a record high. Especially in the third quarter (October to December), sales increased by 35% compared to the same period of the previous year. Net profit before audit increased 12% year-on-year to P14.5 billion. Domestic sales increased by 29% year-on-year to 105.9 billion pesos, and overseas business increased by 46% year-on-year to 32.3 billion pesos due to the addition of sales of Munchy’s, a major Malaysian confectionery company acquired in 2009. Feed and pet food were up 26% year-on-year to P42.1 billion. (7th, Manila Times)