San Miguel Brewery profit up 14% in H1

MANILA, Philippines - San Miguel Brewery Inc. (SMBI), the country’s largest brewer, sustained its positive performance in the first half.

SMBI, a subsidiary of conglomerate San Miguel Corp, reported a 14 percent increase in consolidated net income to P9.4 billion on the back of higher revenues.

Consolidated revenues rose 12 percent to P53.1 billion.

 The company attributed the positive first half performance to better brand reinforcements.

“SMBI said the brewer, with a strong portfolio of beer brands, benefited from creative marketing and sales executions which connected with its audience and allowed it to push into new territories, translating into higher consumption,” SMBI said.

SMBI’s Philippine operations reported a 13 percent increase in revenues to P47 billion.

At present, SMBI is the largest producer of beer in the Philippines, with nine out of 10 beer drinkers preferring its brands.

It started as La Fabrica de Cerveza de San Miguel, an upstart brewery in the heart of Manila that began its operations in 1890.

In 1963, the brewery was renamed San Miguel Corp. (SMC) to reflect its growing ventures into food and packaging. As the beer business grew at a steady pace, it provided the foundation from which SMC expanded its interests from food, beverage and packaging, to power, oil, airline and infrastructure.

SMC is now at a greater advantage to champion the iconic San Miguel brand across the Asia-Pacific region.