SMB income rises 14% in H1

SAN Miguel Brewery Inc. (SMB), a unit of conglomerate San Miguel Corp., said its income grew 14 percent during the first six months of the year on higher sales of its flagship beer brands.

The company said its income for the period ending June rose to P9.4 billion, from last year’s P8.24 billion, while consolidated revenues for the period rose 12 percent to P53.1 billion, from the previous P47.39 billion.

SMB said it “benefited from creative marketing and sales executions [that] connected with its audience and allowed it to push into new territories, translating into higher consumption”.
SMB’s Philippine operations, which still comprise the bulk of its sales, reported a 13-percent revenue jump to P47 billion versus P41.6 billion in 2016, the company added.

Meanwhile, the company said its board of directors has accepted the resignation of its Kirin representative Fumiako Ozawa as director and financial advisor effective October this year.

Ozawa will be replaced by Tomoki Yamauchi, who will also become a member of the company’s executive and audit committees also starting in October.

Yamauchi, 49, is the senior manager of the accounting department of Kirin Co. Ltd. and senior manager of planning department of Kirin Beverage Co. Ltd.