Conglomerate San Miguel Corp. (SMC) said its income last year fell 44 percent to P26.76 billion from the previous year’s P48.15 billion due to impact of unrealized losses on the revaluation of its foreign currency-denominated long-term debt. Know more:
Conglomerate San Miguel Corp. said its income last year fell 44 percent to P26.76 billion from the previous year’s P48.15 billion due to the impact of unrealized losses on the revaluation of its foreign currency-denominated long-term debt.
“Our strong top line performance is a clear indication of our economy’s continuous recovery as well as the strong consumer demand for our products and services,” San Miguel President and CEO Ramon S. Ang said. By the end of December 2022, coal prices reached $404.07 per metric ton , coming from $170.23 per MT at the end of 2021.
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