San Miguel Brewery Inc. revenues up 18% to P97.2B, registers net income of P17.7B in 2016
San Miguel Brewery Inc. (SMB), the brewery subsidiary of San Miguel Corporation, delivered another record-breaking performance in 2016, with consolidated revenues amounting to P97.2 billion, 18% higher than 2015. As a result, operating income reached P27.2 billion. Net income after tax amounted to P17.7 billion.
SMB’s domestic operations reported its highest-ever sales volume of 202.6 million cases, 15% better than last year. The company synonymous with beer—nine out of ten beers sold in the Philippines are San Miguel beer brands—aggressively ramped up distribution, executed strong marketing campaigns and sales initiatives focused on increasing demand and consumption of its products.
Election-related spending, growth in consumer confidence and the positive outlook for consumer spending also helped sales.
The company’s international operations also posted significant improvements in revenue and operating income driven by price adjustments, higher export volumes, and cost management programs.