San Miguel Food and Beverage Inc. on Wednesday reported first-half income growing 6 percent to P20 billion from previous year’s P18.8 billion, driven higher by its liquor sales.
Consolidated sales for the period ending June this year increased 4 percent to P192.9 billion from last year’s P184.58 billion.
“SMFB has had a strong start to the year, and we remain focused on leveraging our strengths to drive growth and efficiency,” SMFB chairman Ramon S. Ang said.
“We are also committed to supporting our nation’s food security and economic growth by expanding access to essential products. We are very optimistic about the opportunities ahead and confident in our ability to deliver continued value to all our stakeholders,” he said.
San Miguel Foods reported a 3 percent sales increase to P87.8 billion, pushed by double-digit revenue growth at its prepared and packaged foods division along with resilient poultry sales.
Key brands such as Tender Juicy Hotdogs, Purefoods Luncheon Meat, Magnolia dairy and San Mig Coffee also maintained strong sales.
Stronger volumes, improved pricing, and lower raw material costs contributed to doubling its operating income to P6.4 billion.
San Miguel Brewery Inc. consolidated revenue rose 1 percent to P75.1 billion on improved sales volumes in the second quarter. Operating income reached P15.9 billion.
“The company projects stronger performance in the second half supported by targeted sales initiatives and increased focus on specific channels,” it said.
Ginebra San Miguel Inc. reported an 18 percent sales increase to P30 billion on 10 percent volume growth, effective marketing campaigns, new products and expanded distribution.
Despite rising costs, operating income rose 31 percent to P4.4 billion, demonstrating strong brand performance and supply chain efficiency.
