By THEPHILBIZNEWS STAFF
Ginebra San Miguel is celebrating its 185th anniversary this year on a high and forceful note by almost doubling its first-half (H1) earnings.
The hard liquor unit of San Miguel Food and Beverage, Inc. (SMFBI) continued to deliver robust results for the first six months of 2019 as revenues reached P14.7 billion, 20 percent higher than last year’s.
Operating income of Ginebra San Miguel Inc. (GSMI) jumped 85 percent to P1.6 billion and Net income surged 94 percent to P980 million. Consolidated EBITDA reached P2 billion, 66 percent higher than the previous year.
Aside from wider distribution and improved efficiencies from operations, the campaigns of core brands Ginebra San Miguel and Vino Kulafu for the first half of the year helped to further drive growth as volumes rose 17 percent against last year.
Supporting brands GSM Blue Light Gin and the GSM Blue Flavors line registered an aggregate volume growth of 70 percent.