On March 25, 2019, Universal Robina Corporation (URC) celebrated its 25th anniversary as a listed company at the Philippine Stock Exchange. Exactly 25 years to the day it made its PSE debut, the company marked the milestone by gracing a simple bell-ringing ceremony at the bourse’s unified trading floor in Bonifacio Global City.
Making the trip down memory lane was a strong contingent from URC’s leadership team, led by Chairman Lance Y. Gokongwei and President and CEO Irwin C. Lee, board members including Robert G. Coyiuto and Patrick Henry C. Go, and JG Summit Independent Director Antonio Go. Representing the PSE were its chairman, Jose T. Pardo, and president and CEO, Ramon Monzon.
URC Chairman Lance Y. Gokongwei delivered a brief speech preceding the ceremonial opening bell ringing at the PSE. “From its founding in the ’50s and humble beginnings as a corn-starch manufacturer, URC has today evolved to be a premier food and beverage company from the Philippines with a growing presence in the ASEAN and Oceania regions. As of 2018, URC has reached total sales of over USD2.5B. Of which more than 35 percent are sourced internationally from our branded foods international division. We continue to operate strong brands that consumers love and are household names including C2 for Green Tea and Great Taste for Coffee, and Jack ’n Jill snacks,” said Mr. Gokongwei.
“I’m happy to note, since URC’s listing in 1994 with a market cap of below Php 30 billion, with the continuing trust and support of capital markets we have grown at a compounded rate of 10 percent, and now have a market cap of Php330 billion. This trust and confidence has enabled us to further access and redeploy capital to expand our footprint and business mix over the years. We’d like to thank the PSE for the continuing support, enabling us to benefit our different stakeholders, not just our investors but including our employees, suppliers, customers and the communities where we operate,” continued URC’s chairman.
“As we move forward into the future, it is my hope that the company will continue to grow and reach new heights through the guidance of our Board members and complemented by a strong, professional and entrepreneurial management team who are here today. We will continue to drive innovation and transform our capabilities to adapt to a changing marketplace and offer our consumers with products of great value and quality.”
PSE Chairman Jose T. Pardo also congratulated the company on this milestone in the ceremony’s opening remarks, where he noted that URC's stock price has improved tremendously since its IPO price of Php21. “Fast forward to March 22, 2019, or last Friday, its share price closed at Php149.20. A 675 percent appreciation from its March 25, 1994, closing price. Consequently, its market cap, soared to Php328.9 billion, from Php 8.35 billion at the close of trading on its listing day.”
Mr. Pardo also noted that URC has kept its status as a top performer by constantly adding new brands and variants to existing products, making URC a go-to brand for many Filipino consumers. He also praised URC’s expansion into other industries, remarking positively on the company’s recent inauguration of the new flour mill in Davao.
URC was founded in 1966, but those familiar with Gokongwei family history know that the beginnings of the food & beverage manufacturer—often referred to in business circles as the first Filipino multinational company—actually go back another decade. A pioneer of the country’s snack food industry through its Chiz Curls, Chippy, and Potato Chips under the “Jack ‘n Jill” brand, URC can directly trace its roots to Universal Corn Products, a cornstarch manufacturing company founded by JG Summit Holdings, Inc. Chairman Emeritus John Gokongwei Jr. in 1957.
For more information on URC and its other products, please visit www2.urc.com.ph
