SMFB reports 7% net income growth to P40.9B

San Miguel Food and Beverage Inc., led by billionaire Ramon Ang, reported a 7 percent increase in net income last year to P40.9 billion.

The company's consolidated sales grew by 6 percent to P400.9 billion due to higher volumes and market expansion initiatives, supported by cost efficiencies and a favorable product mix.

Operating income rose by 15 percent to P55.8 billion, reflecting the strength of its brands and operational excellence.

San Miguel Foods saw a modest 3-percent growth in sales to P185 billion, with operating income rising 37 percent to P13.3 billion, driven by strong demand for Purefoods Tender Juicy Hotdogs and Magnolia dairy products.

Sales at San Miguel Brewery Inc., the company's flagship business, increased by 4 percent to P153.4 billion, with operating income up six percent to P33.4 billion.

Ginebra San Miguel Inc. reported a significant 17-percent jump in sales to P62.5 billion due to a 9-percent volume growth and strong consumer demand, leading to an increase of 26 percent in operating income.

On Wednesday, SMFB shares fell by 3.51% or P1.80 to P49.50 apiece.