San Miguel Corp. posts ₱35.5-B net income in first half

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Metro Manila (CNN Philippines, August 9) — San Miguel Corp. (SMC) posted a net income of ₱35.5 billion in the first half, 29 percent more than last year's earnings.

This income reflects all earnings from its various major businesses, ranging from food, beverages, power, fuel and infrastructure.

"Increased business focus and a lot of hard work were key to our group's stellar performance," said SMC President Ramon Ang in a statement. "We're encouraged by the results we've had so far, and are very hopeful that this momentum will carry through for the rest of the year." 

San Miguel Food and Beverages, Inc., the consolidated company of SMC's food and beverage businesses, reported a net income of ₱15.4 billion for the first semester.

Petron Corp. posted a net income of ₱9.5 billion.

Meanwhile, SMC's packaging business, Yamamura Packaging Group had a sales revenue of P17.6 billion, without factoring in expenses, driven by sales in glass, plastics, metals and its operations in Australia.

SMC Global Power Holdings Corp. had a consolidated revenue of P57.4 billion, 41 percent more than its revenues for the same period last year.

Growth in traffic volume and operations of toll roads drove the 11 percent increase in SMC's infrastructure businesses, which reported a consolidated revenue of P12.1 billion.