URC announced unaudited earnings results for the first half year ended June 30, 2018. URC's first half earnings before income tax or EBIT, declined by 11% versus same period last year to PHP 6.8 billion. Capital expenditures was about PHP 3.8 billion.

The company provided earnings guidance for the year 2018. The company expected the volatility to continue with inflation creeping higher and the peso remaining weak. While the company expects its top line momentum to continue in the second half, margin pressure will remain tough. Thus the company revising its 2018 guidance to sales growing mid-single digits, but operating income to be only flat for the year. This will require a volume, pricing and cost interventions in the second half to offset the 11% EBIT decline the company saw in the first half. And in absolute peso terms, comparing first half EBIT versus second half EBIT, this still translates to 20% better earnings that needs to be achieved in the second half than in the first half.