SAN Miguel Brewery Inc., the beer unit of San Miguel Corp., said its net income grew 12 percent to P13.3 billion from last year’s P11.79 billion on higher volumes of its home market.
The company said its revenues also grew almost at the same pace to P70.9 billion for the six months of the year ending June from last year’s P62.5 billion.
It said the higher revenues were “driven by higher volumes along with campaigns that engaged with consumers and initiatives to expand its footprint here and abroad.”
Earlier, the conglomerate announced it is investing some $650 million to further grow its local and international breweries and bottling plants.
Operating income for the period reached P18.9 billion, up 9 percent from last year’s P17.3 billion.
“SMB’s international operations, meanwhile, similarly posted improvements in revenue and operating income due to higher export efficiencies, prudent fixed cost management and favorable selling prices in Vietnam, Thailand and Indonesia,” the company said.