HEADWINDS SAN Miguel Food and Beverage Inc. (SMFB) continued to overcome economic challenges in the first nine months of the year, posting a healthy six percent increase in consolidated revenues to P276.7 billion.
The company’s strategic response to inflation and cost pressures along with higher volume growth resulted in a four percent rise in Ebitda and consolidated net income to P48.3 billion and P27.5 billion respectively.
SMFB’s beer business reported a nine growth in consolidated sales to P108.3 billion, spurred by higher demand in both domestic and overseas markets.
Domestic sales climbed nine percent to P96.3 billion due to effective marketing campaigns and expanded sales initiatives.
Revenue from its international operations, on the other hand, rose nine percent, driven by robust demand from its exports, Hong Kong, and South China markets.
SMFB’s food business held steady amid inflationary pressures with revenues reaching P129.4 billion. Its outlook remains positive with anticipated cost benefits from declining raw material prices.