San Miguel’s report

San Miguel Corp. president and chief operating officer Ramon Ang (left) responds to feedbacks from shareholders during the annual stockholders’ meeting Thursday at the Valle Verde Country Club. With him is San Miguel chairman and chief executive officer Eduardo Cojuangco Jr. The conglomerate’s consolidated revenues in 2017 rose 21 percent to P826 billion while operating income grew 11 percent to P111 billion. Recurring net income climbed 11 percent to P54.7 billion.