San Miguel Corporation. Mark Demayo, ABS-CBN News

San Miguel Corporation

ABS-CBN News

<p>MANILA -- San Miguel Corporation (SMC) on Tuesday said its net income reached P33.5 billion in the first half of 2024, excluding unrealized foreign exchange effects.</p><p>This is up 66 percent from last year&#x27;s figures, the Ramon Ang-led conglomerate said.</p><p>Operating income was also higher by 22 percent at P85.1 billion because of improved margins in the power business and reduced raw material costs in the food business. </p><p>Net income of the company&#x27;s food and beverage unit increased by 6 percent to P20 billion. San Miguel Global Power Holdings said its operating income rose 56 percent to almost P23 billion. </p><p>Petron, meanwhile, saw its net income reach P6 billion. San Miguel Infrastructure saw its operating income go up by 8 percent to P9.7 billion, while SMC&#x27;s cement business said its operating income increaed by 31 percent to P4 billion. </p><div><a href="https://news.abs-cbn.com/business/2024/6/18/san-miguel-is-top-ph-company-in-fortune-s-southeast-asia-500-list-1519">San Miguel is top PH company in Fortune&#x27;s Southeast Asia 500 list</a></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/-gDJMxAckR8?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>San Miguel Corporation said its net income reached P33.5 billion in the first half of 2024, up 66 percent from the same period last year. </p>

San Miguel Corporation said its net income reached P33.5 billion in the first half of 2024, up 66 percent from the same period last year.

San Miguel Corp net income hits P33.5-B in first half of 2024 | ABS-CBN

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San Miguel Corp net income hits P33.5-B in first half of 2024

San Miguel Corp net income hits P33.5-B in first half of 2024

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Published Aug 13, 2024 10:22 AM PHT

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