San Miguel Food and Beverage Inc. (SMFB) grew its profit by 10 percent last year to P34.7 billion from P31.54 billion the prior year.
Revenues rose 16 percent to P358.9 billion from P309.4 billion, as the business experienced “higher volume growth across beer, spirits, and food,” SMFB said.
“The company optimized pricing strategy across its portfolio to manage the impact of rising raw material costs,” it added.
The company reported revenues of P136.2 billion for its beer business, up 17 percent, with the domestic operations recording volumes growth.
The international operations posted double-digit volume growth, particularly in its Indonesia and Thailand operations.
The spirits business grew its sales by 11 percent to P47.3 billion, driven by higher volumes and a modest price increase.
SMFB’s food business improved revenues by 16 percent to P175.3 billion as almost all its segments delivered strong double-digit revenue growth, led by the flour, feeds and prepared and packaged food businesses. – Ruelle Castro
