San Miguel Brewery Inc. (SMB), the beer unit of conglomerate San Miguel Corp., said its income for the first quarter rose 38 percent to P6.8 billion from the previous year’s P4.93 billion on higher sales volume. Know more:
San Miguel Brewery Inc. , the beer unit of conglomerate San Miguel Corp., said its income for the first quarter rose 38 percent to P6.8 billion from the previous year’s P4.93 billion on higher sales volume.
Its international operations, meanwhile, posted a 28-percent increase in sales volume on the back of its exports business and Hong Kong operations.SMB started its recovery in the domestic market last year when its net income rose by almost 5 percent to P19.54 billion. Its overseas operating income for the year 2022 was higher by 33 percent at $46.1 million, largely driven by favorable volumes, increased selling prices and managed fixed expenses, tempered by increasing production costs.
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