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
Jollibee, the flagship brand of Jollibee Foods Corp., has been named the No. 1 chicken quick-service
The European Union expects higher investment flows to the Philippines once a free trade agreement (FTA)
The partnership between the Philippine National Police Anti-Cybercrime Group and GCash has been strengthened with the
The Department of Energy announced a major fuel price rollback, with diesel and kerosene dropping by
Meralco clarified that the “additional” charges appearing on electricity bills are not company-imposed fees but government-mandated