San Miguel income rises to ₧23.3B in H1

By VG Cabuag @villygc

SMC said its performance during the period was also supported by contributions from its new acquisition, Eagle Cement Corp.

Consolidated revenues were down 4 percent to P685.2 billion from the previous year’s P711.41 billion, as declining crude oil prices continued to affect fuel subsidiary Petron Corp. while San Miguel Global Power contended with lower volumes.

“We’re greatly encouraged by the sustained growth we are see- ing across most of our businesses. While there are challenges, we’re confident in the programs we have put in place to address them,” San Miguel President and CEO Ramon S. Ang said.

“We are also keeping our focus on executing on our projects, implementing our growth strategies, and providing our customers the high-quality service they expect from San Miguel.”

San Miguel Food and Beverage Inc.’s income was flat at P18.8 bil-