Ginebra San Miguel Inc., the spirits unit of conglomerate San Miguel Corp, reported income in the first half of the year reaching P4.1 billion, 64 percent higher than last year’s P2.48 billion.
The company said its performance was buoyed by steady volume growth resulting from strategic marketing campaigns that helped boost consumption.
Ginebra sold 22.2 million cases, a 1 percent improvement over the same period last year.
Sales revenue rose 10 percent to P25.4 billion from last year’s P23.14 billion while
income from operations went up 3 percent to P3.4 billion from the previous year’s P3.27 billion.
“Through well thought-out strategies and campaigns, GSMI continued to stay on top of its market and has become a reliable performer and contributor to total San Miguel Group performance. With the initiatives it has launched, we’re looking to further build on its momentum and continue performing well the rest of the year,” San Miguel president and CEO Ramon S. Ang said.
Ginebra said the campaign helped sustain strong brand equity and, complemented by a consumer promo in March, spurred consumption. This has cushioned the effects of a price increase implemented on all its products.
On-ground events, particularly the return of the concert series and fiesta activations, also boosted awareness and brought its brands closer to consumers.
At the meeting of its directors on 2 August, the business approved the declaration and payment of regular cash dividends of P0.75, and special cash dividends of P1.75 on common shares to all shareholders of record as of 16 August.
