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Roxas Holdings' losses pile up as La Niña hits sugar output

BusinessWorld
May 7, 2021 | 7:06 pm
ROXAS HOLDINGS, Inc. suffered a P333.39-million attributable net loss during its fiscal year’s January-March second quarter due to the effects of the La NiÃ±a weather phenomenon on sugar production.
The listed sugar and ethanol producer’s net loss attributable to the equity holders of the parent company is an expansion from P266.19 million a year ago, it told the stock exchange on Friday.
Revenues from contracts with customers amounted to P1.54 billion, 24.1% lower than the P2.03 billion it had the year earlier, while operating expenses fell 23% to P133.98 million from P173.94 million last year. ....

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URC income up 15% to P11.6B | BusinessWorld

BusinessWorld
March 3, 2021 | 12:06 am
GOKONGWEI-led Universal Robina Corp. (URC) posted a 15% increase in net income last year to P11.6 billion due in part to lower debt and interest expenses, it said on Tuesday.
In a regulatory filing, the listed food company said the onset of the pandemic early last year hit trading conditions and consumer sentiment, “with contractions seen in several snack food and beverage categories the company competes in.”
“Despite these challenges, URC has gained significant market share and performed ahead of competition,” it added.
Net sales for the year amounted to 133.1 billion, a 1% drop from 2019 on a reported-peso basis but up 1% on a constant currency basis. ....

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Roxas Holdings posts P3.8-B net loss

December 18, 2020 | 12:06 am
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LISTED sugar and ethanol producer Roxas Holdings, Inc. (RHI) posted an attributable net loss of P3.81 billion for its 2020 fiscal year that ended on Sept. 30 despite cutting its net debt.
In a stock exchange disclosure on Thursday, the sugar company said its result for 2020 is worse than its 2019 losses of P1.88 billion.
Revenues of RHI dropped 41.1% to P4.8 billion against P8.15 billion in the previous year.
Further, the company said its net debt dropped 55.1% to P4.4 billion compared with P9.8 billion a year ago due to the completion of its asset sale.
RHI Chairman Pedro E. Roxas said funds from the sale of company assets such as its sugar mill and ethanol plant in La Carlota City, Negros Occidental, and investment properties like shares in Najalin Agri-Ventures, Inc. were used to pay all long-term loans. ....

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RHI net loss balloons to P3.8 billion in 2020 – The Manila Times

RHI net loss balloons to P3.8 billion in 2020 – The Manila Times
manilatimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from manilatimes.net Daily Mail and Mail on Sunday newspapers.

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