Tuesday 18 September
Powered by Ajaxy
Nov 10, 2017 @ 19:58

San Miguel recurring profit up 21% to P43.8B

 

Conglomerate San Miguel Corp. said its recurring net income went up more than a fifth in the nine months to September to P43.8 billion.

The amount excludes the effect of foreign exchange transaction and the one-time gain from the sale of SMC’s business.

Revenues rose 20% to P597 billion, buoyed by higher sales mainly from its core, food, beverage and lackaging businesses

Consolidated operating income increased 13 percent ro P82.8 billion on sustained sales growth across its businesses and effective cost-cutting measures.

The new food and beverage unit under San Miguel Pure Foods raked in combined earnings of P19.5 billion on the back of a 11 percent growth in revenues to P180 billion.

Revenues from the packaging business increased 13 percent due to higher sales from its plastics and metal businesses and the continued growth of its Australian operations.

The power generation business recorded revenues pf P62.1 billion, up two percent on higher spot market prices.

Tags: , , , , , , , ,

Related Stories
Finance Secretary Sonny Dominguez’s biggest concern in allowing San Miguel Corp. to build a former
San Miguel Corp. is going all in on its P750 billion Bulacan airport project as
San Miguel Corp. has tapped Standard Chartered Bank and Sumitomo Mitsui Banking Corp. as financial
Former San Miguel Corp. chairman and CEO Andres Soriano III raised P380.8 million from the


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.