SMC delivers 19% profit growth to P37B

San Miguel Corporation (SMC) reported a 19 percent rise in net income to P37.1 billion during the first nine months, driven by strong revenue growth across its diverse businesses.

Despite challenges such as typhoons and currency fluctuations, SMC’s consolidated revenues increased by 11 percent to P1.2 trillion.

This strong performance was fueled by higher sales volumes in its power, fuel and oil, food and spirits businesses.

Operating income also went up by 11 percent, with improved profitability in the food, spirits and infrastructure sectors which offset lower refining margins in the fuel and oil business.

Earnings before interest, taxes, depreciation and amortization went up by nine percent to P168.1 billion.

Resiliency shows

Overall, the company’s strong performance demonstrated its ability to adapt to challenges and deliver consistent growth.

“Our commitment to sustainable growth and responsible cost management is at the core of everything we do. Our strong results reflect our ability to run our businesses efficiently, seize growth opportunities and focus on building long-term value and excellence,” SMC chairperson and CEO Ramon S. Ang said.