San Miguel Corp.’s beer company San Miguel Brewery Inc. on Wednesday reported consolidated net income rising 26 percent in the first half to P13.5 billion from last year’s P10.65 billion.
Sales revenue grew 14 percent to P74.1 billion compared to only P65 billion in the same period last year.
SMB posted consolidated operating income of P16.4 billion, up 12 percent compared to the same six-month period last year of only P14.72 billion.
The company attributed the growth to the sales performance of both its domestic and international operations, combined with a more favorable business environment.
“We continue to see strong demand for our beer products. Through solid marketing strategies and a portfolio mix that gives consumers greater choice, we are able to keep our brands relevant and adapt to changing consumer needs and preferences,” San Miguel president and CEO Ramon S. Ang said.
According to SMB, domestic beer volume grew 9 percent, boosted by new brand campaigns and offtake-generating programs.
International operations resulted to a 16 percent increase of its exports business and from its Hong Kong and Thailand operations.
Its Hong Kong retail sales have increased the past months on improved labor market conditions and the continued uptick in tourism, supported by the government’s consumption voucher program.
Its San Mig Light continued to outperform all its other brands and posted double-digit growth as of the first half this year.
