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Ginebra San Miguel Inc. (GSMI) said profit for the first quarter of the year reached P1.04 billion, up 120 percent from P474 million last year.
Revenues amounted to P11.33 billion, up from last year’s P7.45 billion. GSMI said volume grew 29 percent.
Operating income hit P1.3 billion, up 88 percent .
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GSMI said its growth was driven by “programs to sustain the brand equity of its core brands Ginebra San Miguel and Vino Kulafu and further increase awareness on GSM Blue.”
The flagship brand’s advertising campaign “Bagong Tapang sa One Ginebra Nation” helped push volumes to grow 29 percent from last year–its highest record in a single quarter, it noted.
