UY-led Udenna Corp. posted a P3.39-billion net income in 2019, while its revenues for last year ended at P110.67 billion. We continue to lay down the groundwork for Udenna’s future growth and profitability,” Udenna Corp. Chairman and Chief Executive Officer Dennis Uy was quoted as saying. Udenna’s financial position also “remained strong with leverage going down” as its debt to equity ratio improved to 2.71 times from 3.09 times in 2018. Meanwhile, Udenna sees 2020 as a “challenging” year for all its businesses, given the ongoing coronavirus disease 2019 (Covid-19) pandemic. “The on-going Covid-19 situation remains serious and we have been adjusting to it.

Source: Manila Times June 08, 2020 18:00 UTC