Philippines’ SMFB sustains ‘strong’ growth in first nine months

The company also registered its quarterly highest revenue since 2018.

Philippine-firm San Miguel Food and Beverage, Inc. (SMFB) reported its net income grew 9% to P26.3b in the first nine months of the year. 

The company also reported its consolidated operating income climbed by 15% to P37.6b. 

“Our solid performance and strong fundamentals today are a reflection of the investments we made over the years, as well as our focus on execution to drive growth and profitability,” Ramon S. Ang, President, and CEO of SMFB, said. 

“We continue to implement performance improvement measures and prudently invest in projects that will further solidify our market-leading positions in the markets we operate. We remain fully committed to building long-term value for all our shareholders, as well as delivering quality products for the everyday needs of the consumers.”

Read more: Philippines’ SMFB posts 8% net income growth in H1

SMFB also reported its revenues amounted to P261.5b, representing an 18% year-on-year growth. 

The company linked this to the underlying volume growth across its beer, spirits, and food divisions, on top of the price increases implemented across various product portfolios.