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FOOD AND BEVERAGE <strong>UPE’s net income drops</strong> Uni-President Enterprises Corp (UPE, 統一企業), the nation’s largest food and beverage conglomerate, yesterday reported an annual decline in net income for last year, affected by lower contributions from its subsidiaries amid rising prices of raw materials and the COVID-19 pandemic. Its consolidated net profit was NT$19.88 billion (US$699.14 million) last year, down 7.7 percent from a year earlier, or earnings per share of NT$3.5, down from NT$3.79 in 2020. Consolidated revenue rose 5.9 percent year-on-year to NT$473.5 billion. Of Tainan-based UPE’s Taiwan subsidiaries, President Chain Store Corp’s (統一超商) net profit fell 13.4 percent, while Ton

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