Weather disruptions failed to dampen San Miguel Food and Beverage Inc.’s (SMFB) profit in the first nine months, with the group recording an 11-percent gain.
The company said Monday its consolidated net income grew to P33.7 billion, fueled by the robust operations of its food, beer, and spirits segments.
Consolidated revenues also slightly went up by 4 percent to P302.9 billion.
Earnings before interest, taxes, depreciation, and amortization stood at P58.4 billion, 13 percent higher than a year ago.
‘Our performance shows the effectiveness of our strategy to grow across multiple segments and markets,’ SMFB chair Ramon Ang said in a statement.
Growth driver
‘We will continue to strengthen our supply chain, improve productivity, and expand capacity to capture more opportunities and deliver long-term value for our consumers and shareholders,’ he said.
Its food businesses remained the growth driver with P143.5 billion in revenues, up 7 percent, as the firm saw higher demand for dairy and coffee, poultry, and prepared and packaged food.
The growth of San Miguel Brewery, meanwhile, was ‘steady’ with P110.7 billion in revenues.
Ginebra San Miguel Inc. likewise saw a 7-percent increase in revenues, hitting P48.7 billion.