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San Miguel Food and Beverage Inc. (SMFB) recorded consolidated revenues of P146.79 billion in the first half, up 20 percent from the same period last year.
Earnings before interest, taxes, depreciation and amortization stood at P29.28 billion, up 66 percent from the same period in 2020, representing margins of over 20 percent.
Operating income more than doubled to P 23.04 billion, driven by improvements in volumes and selling prices across the divisions, as well as continued group-wide cost-containment efforts and operational efficiencies.
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First half consolidated net income of P17.36 billion was up 137 percent, surpassing pre-pandemic profits in the first half of 2019.
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