MANILA -- San Miguel Food and Beverage Inc said Thursday consolidated revenues declined in the January to March period due to the COVID-19 pandemic.

Consolidated revenues in the first quarter fell 9 percent to P69 billion. Higher sin taxes that took effect in January impacted the beer and spirits unit, the company said in a stock exchange filing.

San Miguel Food and Beverage did not immediately disclose net income or net loss numbers. The company said it was "taking the appropriate steps to managing its expenses and capital expenditures moving forward."

"The road to recovery may be long. However, over the last 130 years, we successfully overcame many challenges. We remain confident that with our strong fundamentals and ability to deliver
good and affordable products to our consumers, we will overcome this once again," said its President and CEO Ramon Ang.

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The San Miguel Corp unit said it donated canned goods, poultry, flour, Nutribuns, biscuits, and coffee, among others, to over 1.6 million families.

Retooled spirits facilities produced over 1.2 million liters of disinfectant alcohol that was distributed to 4,000 hospitals, it said.

"During these difficult times, we remain steadfast in our commitment to ensure that there is enough food for every Filipino. It is our goal to provide nourishment and safety especially to the
most vulnerable communities," he said.

San Miguel Food and Beverage brands include, among others, San Miguel Beer, Ginebra San Miguel and Purefoods Tender Juicy Hotdog.

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