San Miguel Corporation (SMC) sustained
its strong financial performance in the first nine
months of the year as
net income surged 141%
to P31.2 billion from the
same period last year.
San Miguel
Brewery (SMB) continued to perform strongly
throughout the nine-month
period, with consolidated
revenues reaching P108.3
billion, 9% higher than last
year. I Photo: San Miguel
Corporation
Its significant
growth was driven by the
exceptional performance
of key subsidiaries Petron
Corporation, San Miguel Brewery Inc. (SMB),
Ginebra San Miguel Inc.
(GSMI), SMC Infrastructure, and Eagle Cement
Corporation (Eagle).
Consolidated operating income reached
P110.2 billion, a 29%
year-on-year growth that
reflected performance
improvements across its
Fuel and Oil, Beverages,
Packaging, Infrastructure,
and Cement businesses.
All the news:
Business man in suit and
tie smiling and reading a
newspaper near the financial district.
SMC’s Power
and Food businesses,
while still tracking below
last year’s levels, have
started to show improvements in the third quarter.
C o n s o l i d a t e d
revenues slightly decreased by 5% to P1.1
trillion due to lower selling prices from Petron,
along with a decrease in
sales volumes for San
Miguel Foods (SMF) and
San Miguel Global Power
(SMGP).
