The most exciting aspect of URC’s growth story for year 2013 has returned home to the Philippines where URC expected domestic branded operations that generated 55% of top-line growth going forward versus 31% on year 2012. URC reported annual 2013 earnings growth rate of 42.31 % and had revenues growth rate of 12.63 % for the full year 2013. With resurgence in consumption trends domestically, the catalysts to earnings growth now reside where the company has a dominant market share, 60 years of operating experience, the broadest distribution network and excess capacity. Home is where operating and financial risks are the lowest, growth is more visible and incremental earnings are the greatest. This shift back home warrants a higher valuation of Universal Robina Corporation. In addition, branded foods Philippines sustained its growth momentum as third quarter revenue grew by 23% versus the same period last 2012, which translated to nine months sales of php30.9 billion, a growth of 22% in value and 20% in volume. Given this, there is a high growth and market attractiveness.
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"I'm no Expert. But I think people mope when their expectations are too high. It's tiring when you always have to overachieve. Don't overdo it. Just work on achieving what you can." Archives
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