San Miguel Corporation (SMC) reported a 19% increase in net income to P37.1 billion from January to September 2024, driven by an 11% revenue growth to P1.2 trillion across its power, fuel, food, and spirits sectors. San Miguel Food and Beverage saw net income rise by 11% to P30.4 billion, while the power division’s income surged 48% to P13.5 billion. Petron Corp. recorded 12% higher revenues at P657.9 billion despite a slight drop in income. SMC’s infrastructure and cement segments also experienced growth, showcasing the company’s resilience despite economic challenges.
SAN MIGUEL CORP EARNINGS SOAR 19% AMID GROWTH IN CORE BUSINESSES
Latest from Business
Energy Secretary Sharon Garin warned that diesel prices in Metro Manila may reach P115 per liter
Digital wallet giant GCash has blocked over 3,200 merchants linked to illegal activities, including online gambling,
The Petroleum Association of the Philippines (PAP) is urging power companies to prioritize the use of
Grab Philippines and its motorcycle taxi subsidiary Move It have launched a multi-layered support program to
After divesting from its unprofitable US operations, Del Monte Pacific Ltd. (DMPL) is focusing on strengthening