SMC delivers 13% revenue growth in first quarter of 2024

SunStar Business
SunStar Business

SAN Miguel Corp. (SMC) delivered a 13 percent increase in consolidated revenues to P392.7 billion for the first quarter of 2024.

This strong start to the year is attributed to the performance of key businesses, including its spirits, food, power, fuels and infrastructure units, which reported significant volume growth due to higher demand.

Operational efficiencies and strategic cost management have led to a 15 percent rise in its operating income to P40.5 billion.

Ebitda grew by eight percent to P54.8 billion. SMC’s net income grew 61 percent to P14.5 billion before accounting for foreign exchange adjustments.

After these adjustments, net income remained steady at P8.9 billion. / PR

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