San Miguel Food and Beverage Inc. (SMFB) posted a 6-percent increase in consolidated revenues to P276.7 billion in the first nine months of 2023.
The company’s strategic response to inflation and cost pressures along with higher volume growth resulted in a 4-percennt rise in EBITDA and consolidated net income to P48.3 billion and P27.5 billion, respectively.
SMFB’s beer business reported a 9-percent growth in consolidated sales to P108.3 billion, spurred by higher demand in both domestic and overseas markets.
Domestic sales climbed 9 percent to P96.3 billion due to effective marketing campaigns and expanded sales initiatives. Revenue from its international operations rose 9 percent, driven by robust demand from its Exports, Hong Kong and South China markets.
Beer business’ consolidated EBITDA was 12 percent higher than in the same period last year at P29.4 billion, while consolidated net income was up 20 percent to P19.4 billion.
