The robust 2Q18 performance brings the Group’s consolidated sales for the six-month period ended 30 June 2018 to P145.3 billion, an 8.0 percent growth vs same period last year.

JG Summit’s (JGS) consolidated revenues for the quarter ended June 30, 2018 registered at P74.6 billion, a stronger year-on-year growth of 11.4 percent versus previous quarter’s 4.7 percent.

The acceleration was mainly driven by improvements in Universal Robina Corporation’s (URC) Branded Consumer Foods Philippines and AgroIndustrial & Commodities; sustained growth momentum across Robinsons Land Corporation’s (RLC) business units and higher average selling prices of JG Petrochemical Group’s (Petrochem) products.

Each of these business units, as well as Robinsons Bank, posted double-digit topline growth in 2Q18. These were tempered by the 4.2% increase in Cebu Air’s revenues and the 5.6 percent rise in JGS’ equity in net earnings of associates – Meralco, United Industrial Corporation and Global Business Power Corporation. The robust 2Q18 performance brings the Group’s consolidated sales for the six-month period ended 30 June 2018 to P145.3 billion, an 8.0 percent growth vs same period last year.

The margin pressures in 1Q18, however, persisted in 2Q18 – the weaker Philippine peso and higher fuel prices augmented input costs of URC, CEB and Petrochem. Moreover, URC and CEB posted higher general, selling and distribution expenses in 2Q18.

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