San Miguel Brewery Inc. (SMB) grew its profit last year by 6.4 percent to P21.8 billion from P20.49 billion in 2021.
Sales grew 17.2 percent to P136.2 billion from P116.21 billion.
The company told regulators the growth in sales was complemented by a “greater focus on consumer needs through innovation, consumer engagement programs and increased marketing support in relevant channels.”
The initiatives resulted to a “significant volume growth,” which, coupled by a favorable brand mix, and cost efficiency initiatives, helped business grow.
Overseas, SMB saw volumes to grow in Indonesia and Thailand.
“SMB International’s exports operations posted its third consecutive year of higher volume and profit, particularly in markets like UAE, Qatar, USA, Bahrain as well as in new markets in Asia and Africa,” the company said. – Ruelle Castro
