By Jenniffer B. Austria

LISTED Universal Robina Corp. posted a consolidated net loss of P232 million in the first three months of its 2009 fiscal year?October to December 2008?as a result of foreign exchange and mark-to-market losses from financial assets, the company told the Philippine Stock Exchange yesterday.

Those losses brought the company?s net income to negative from a positive P234 million in the same period a year ago, and they resulted ?from the drop in bond prices worldwide arising out of the current financial crisis,? said Universal Robina, the food-and-beverage arm of the Gokongwei-owned JG Summit Holdings Inc.

The company lost P958 million from its bond holdings in the first three months of its 2009 fiscal year, and P2.264 billion for the full fiscal year in 2008.

The company made the statement even as Robinsons Land Corp., JG Summit?s real estate arm, reported an unaudited net income of P680 million in the same three-month period.

Revenue increased only 3 percent, to P2.38 billion from P2.32 billion, due to weaker sales from the hotels and residential buildings division, Robinsons Land said.

Universal Robina said net sales and services rose 22.2-percent to P13.268 billion, and operating profit improved 1.7 percent to P1.024 billion owing to the profitability of its branded consumer foods units, the improving margins of international operations, and the price increases for some key products.

The company?s core earnings before tax was lower by 10.5 percent, to P793 million, following an increase in its short-term debt and trust receipts.

The company?s branded consumer foods segment, including the packaging division, increased sales and services by 25.4 percent to P10.433 billion. Philippine branded operations also showed growth, grossing P6.935 billion in the same quarter for a growth of 16.9 percent.

Net sales of Universal Robina?s agro-industrial group rose 1 percent to P1.509 billion.

The commodity foods group booked gross sales of P2.180 billion, up 22.8 percent from P1.775 billion.