Philstar
SMC core profit rises by 54% in 9 months
San Miguel Corporation's core net income climbed 54 percent to P60.3 billion in the first nine months of the year, excluding foreign exchange and one-off items.
Operating income rose by 13 percent to P137.4 billion, and consolidated EBITDA grew by 16 percent to P194.3 billion.
This strong performance was driven by robust contributions from its food, spirits, power, and infrastructure segments, which offset external pressures on the fuel and oil segments.
San Miguel Food and Beverage's consolidated revenues increased by 4 percent to P302.9 billion, with Ginebra San Miguel and San Miguel Foods each seeing a 7 percent revenue soar.
SMC Infrastructure reported a 7 percent revenue increase to P29.6 billion, supported by a 4 percent rise in average daily vehicle count.
Despite a 10 percent revenue fall to P594.9 billion due to lower Dubai crude prices, Petron's sales in the Philippines saw an 11 percent increase for retail clients and 5 percent for commercial clients.
SMC chair and CEO Ramon Ang expects stronger sales in the last quarter due to increased holiday demand.
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