SMB profits jump 26% on higher domestic, international sales

San Miguel Corporation (SMC) brewing unit San Miguel Brewery Inc. (SMB) reported a robust 14% growth in consolidated revenues in the first semester, registering P74.1 billion in sales compared to P65 billion in the same period last year.

The company attributed the growth to the positive sales performance of both its domestic and international operations, combined with a more favorable business environment.

“We continue to see strong demand for our beer products. Through solid marketing strategies and a portfolio mix that gives consumers greater choice, we are able to keep our brands relevant and adapt to changing consumer needs and preferences,” SMC president and CEO Ramon S. Ang said.

SMB posted consolidated operating income of ₱16.4 billion, up by 12% compared to the same six-month period last the year, while consolidated net income ended at ₱13.5 billion, exceeding last year’s level by 26%.

SMB's domestic beer volumes grew 9%, boosted by new brand campaigns and offtake-generating programs. International operations meanwhile posted a 16% increase in sales volume from its exports business and Hong Kong and Thailand operations.