Corporate

San Miguel Corp. (SMC) reported a more than four-fold surge in first-quarter net income to ₱43.4 billion, up from ₱8.9 billion a year earlier, driven primarily by a one-time gain from the partial sale of power assets and foreign exchange adjustments, the diversified conglomerate said on Wednesday.

JG Summit Holdings Inc., the flagship conglomerate of the Gokongwei group, reported a steep 61 percent decline in net income to ₱4.3 billion in the first quarter of 2025, down from ₱11 billion a year ago.

GMA Network Inc. reported a 293 percent surge in net income for the first quarter of 2025, fueled by a robust recovery in advertising revenue ahead of the May mid-term elections. The broadcasting giant posted a net profit of ₱801.68 million for the January to March period, sharply higher than the ₱204.12 million recorded in the same quarter last year.

Bloomberry Resorts Corp., the operator of Solaire Resorts and Casinos, reported a 26 percent increase in net income to ₱3.3 billion in the first quarter of 2025, up from ₱2.5 billion in the same period last year, the company told regulators on Wednesday.

Vitarich Corp., a major feed and poultry producer, reported an increase in first-quarter net income to P241.6 million, soaring 389 times from P6.22 million in the same period last year. The surge highlights the company’s resilience and strategic agility amid market supply disruptions.