San Miguel Corp posts 67 pct growth in net income in 2023 | ABS-CBN
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San Miguel Corp posts 67 pct growth in net income in 2023
San Miguel Corp posts 67 pct growth in net income in 2023
ABS-CBN News
Published Mar 15, 2024 02:10 PM PHT
MANILA -- San Miguel Corporation on Friday said its net income jumped 67 percent to P44.7 billion in 2023.
MANILA -- San Miguel Corporation on Friday said its net income jumped 67 percent to P44.7 billion in 2023.
The conglomerate said this growth comes on the back of significant volume growth across San Miguel Brewery, Ginebra San Miguel, Petron, and SMC Infrastructure.
The conglomerate said this growth comes on the back of significant volume growth across San Miguel Brewery, Ginebra San Miguel, Petron, and SMC Infrastructure.
San Miguel Food and Beverage saw its net income climb 10 percent to P38.1 billion, as its units sold more products and improved pricing strategies.
San Miguel Food and Beverage saw its net income climb 10 percent to P38.1 billion, as its units sold more products and improved pricing strategies.
San Miguel Brewery's net income was up 16 percent to P25.3 billion, while the net income of Ginebra San Miguel soared by 55 percent to P7 billion.
San Miguel Brewery's net income was up 16 percent to P25.3 billion, while the net income of Ginebra San Miguel soared by 55 percent to P7 billion.
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Petron, meanwhile, saw its net income rise 51 percent to P10.1 billion.
Petron, meanwhile, saw its net income rise 51 percent to P10.1 billion.
SMC Infrastructure saw its net income increase by 33 percent to P11.4 billion because of sustained growth across all operating toll roads.
SMC Infrastructure saw its net income increase by 33 percent to P11.4 billion because of sustained growth across all operating toll roads.
SMC said it is optimistic about sustained growth in 2024, with the Philippines' strong macroeconomic fundamentals.
SMC said it is optimistic about sustained growth in 2024, with the Philippines' strong macroeconomic fundamentals.
In particular, it sees the infrastructure business growing because of continued traffic growth and increased travel throughout the country, while the cement business may grow from the push for infrastructure development.
In particular, it sees the infrastructure business growing because of continued traffic growth and increased travel throughout the country, while the cement business may grow from the push for infrastructure development.
SMC's net income reached P23.3 billion in the first half of 2023, on the back of improving performance of its beer, spirits, infrastructure, and packaging units.
SMC's net income reached P23.3 billion in the first half of 2023, on the back of improving performance of its beer, spirits, infrastructure, and packaging units.
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