San Miguel nets P36.7B, sustains P1-T revenues

San Miguel nets P52 billion in 2024 amid 'strong operations'

MANILA, Philippines – San Miguel Corporation’s (SMC) net income grew 22% to P52 billion in 2024 thanks to higher sales volumes across its units. Tycoon Ramon Ang’s conglomerate booked P1.6 trillion in consolidated revenues last year, a 9% increase led by SMC’s power, infrastructure, and food and beverage units. Higher sales and expansion initiatives of San Miguel Food & Beverage (SMFB) drove the unit’s consolidated sales up 6% to P400.9 million.…

San Miguel nets P36.7B, sustains P1-T revenues

MANILA, Philippines – Despite higher sales in its core businesses, the earnings of conglomerate San Miguel Corp. (SMC) slipped by 18 percent to P36.7 billion last year due to foreign exchange adjustments and a still weak cement unit. Excluding nonrecurring items, SMC’s core net income jumped by 22 percent to P52.3 billion on higher sales