San Miguel Corporation’s flagship brewing unit, San Miguel Brewery Inc. (SMB) posted strong results for the first nine months of the year, driven mainly by higher volumes from both domestic and international operations, and a more positive business environment.
SMB’s consolidated revenues grew 9.4% to ₱108.3 billion from ₱99.0 billion in the same period last year.
Consolidated operating income, likewise, increased by 8.5% to ₱24.1 billion, while consolidated net income ended at ₱19.4 billion, 20.2% higher than last year.
SMB domestic beer volumes expanded by 4.3%, driven by dynamic brand campaigns, targeted sales programs and a sustained economic recovery that saw more markets reopening amidst the backdrop of rising inflation and living costs. On the international front, SMB reported an 8.9% increase in sales volume, bolstered by the performance of its Export business along with notable growth in the Hong Kong and South China markets.
