Amid inflation concerns, URC, Rebisco expect topline growth

Snack food firms Universal Robina Corp. (URC) and Republic Biscuit Corp. (Rebisco) are expecting to see growth in their top lines this year, but noted inflation remains a concern.

- By LOUELLA DESIDERIO

"We're looking for about mid-to high single-digit growth overall (in top line). And that will be driven by a lot of return to growth in the Philippines but also a continuation of our very good growth internationally," URC president and CEO Irwin Lee told reporters on the sidelines of The Business Manual CEO Awards.

He also said the company expects a boost from the national elections this year, with its products among those purchased and distributed by candidates during the campaign period.

"Historically, there's always been a bump whenever there's an election year," he said.

In terms of capital expenditures, he said the company is looking to spend anywhere between P8 billion and P10 billion this year, the same level as in the past few years.