Jennifer Hughes
3 minute read
A boy enjoys free meals during a feeding program at a slum community in Manila October 28, 2011. REUTERS/Cheryl Ravelo
Companies need a story to pique investor interest. Would-be owners of Manila-based Monde Nissin, which hopes to raise $1 billion in an initial public offering, may be tempted to focus on the companyâs ownership of Quorn as a way to play the fast-growing, ultra-cool meat-free market. But products like Lucky Me instant noodles and Jelly Vit juice are the key to valuing the business.
Founded in 1979, family-controlled Monde Nissin sells across the region with its real strength in the Philippines. Revenue growth of 5% a year in the snacks business is rather bland, however.
Gokongwei-led URC profit jumps 51% in first quarter bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
“We all have warm memories of Cup Noodles. Whether it was the first meal mom let you make by yourself, the food that got you through college, or your cozy go-to on a cold winter day, the iconic classic has meant a lot to our fans over the last 50 years,” the brand says. “To celebrate with them, we’ll be having contests, surprise giveaways and massive sweepstakes throughout the year. Join Nissin Foods for a year-long celebration of the most iconic noodles in the world the one, the only, the Original Nissin Cup Noodles.”
We can’t wait to see more of its surprises!
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.
BENGALURU (Feb 24): Most Asian equities fell on Wednesday, shedding early gains, as investors continued to worry about overvalued emerging market assets and a higher inflation outlook even as the head of the US Federal Reserve pushed back on inflation concerns.
Philippine s index saw the biggest fall in emerging Asia, shedding 1.2%, as sentiment remained weak after Covid-19 restrictions in its capital were extended earlier this week.
The Asia-ex Japan index eased 1%, reversing an earlier rise of 0.3%.
US Federal Reserve Chairman Jerome Powell soothed inflation concerns and reiterated an accommodative policy stance in a speech before Congress, saying the central bank would move carefully, patiently, and with a lot of advance warning before changing any policy settings.