Corporate

San Miguel Food and Beverage Inc. (SMFB) reported a 7 percent increase in net income for 2024, reaching P40.9 billion, up from P38.1 billion in the previous year. The growth was driven by a 6 percent rise in consolidated sales, reaching P400.9 billion, supported by higher volumes and strategic market expansion.

Cebu-based Top Line Business Development Corp. is in advanced discussions with a strategic investor ahead of its upcoming initial public offering (IPO) and listing on the Philippine Stock Exchange (PSE) in early April. The company aims to raise some ₱764 million from the sale of up to 2.14 billion primary shares, priced at an indicative ₱0.38 per share.

Ginebra San Miguel Inc. has appointed John Paul L. Ang, the eldest son of San Miguel Corp. chairman and CEO Ramon S. Ang, as a new director.

SM Hotels and Convention Corp., a subsidiary of SM Prime Holdings Inc., has planned a P15-billion expansion in the wake of strong surge in occupancy rates across its hotels and convention centers in 2024, propelled by growing travel and MICE--Meetings, Incentives, Conferences, and Exhibitions--demand.

Nickel Asia Corp., a major player in natural resources development, and emerging nickel producer DMCI Mining Corp. have forged a deal to jointly explore the feasibility of developing and operating a nickel processing plant in the Philippines.