Following a strong 2011 performance, diversified conglomerate San Miguel Corporation (SMC) reported robust first quarter results for the year, on the back of solid contributions from all its business units.
San Miguel reported first quarter consolidated sales revenues of P142.0 billion, a 12% improvement from
Consolidated net income attributable to equity holders amounted to P8.5 billion, 19% higher than in 2011. Consolidated net income before non-controlling interest, meanwhile, amounted to P11.7 billion, up 17% from the same period last year.
Operating income grew 5% to P5.3 billion with improvements in efficiency, management of fixed costs, and significant improvements in international operations.
San Miguel Brewery Inc.’s consolidated revenues, meanwhile, reached P18.3 billion, up 5% from the previous year.
San Miguel’s Food Group, under San Miguel Pure Foods Company Inc., posted
The San Miguel Packaging Group, for its part, posted a 3% improvement in revenue at P5.9 billion, pushed by higher domestic sales and solid performance from its export business.
Operating income for San Miguel Yamamura Packaging improved 11% to P511 million, as a result of efficiency initiatives, fixed cost
Petron Corporation, for its part, reported a 4% growth in its sales volume, with more than 12 million barrels sold in the first quarter. Most of its products registered positive growth, with domestic volumes growing by 8%, resulting
The company reported that it is consolidating its infrastructure business with the fast-tracking of the upgrading of the Boracay Airport, ongoing construction of the Tarlac-Pangasinan-La Union Expressway (TPLEX) and initiation of the MRT-7 project. Among its recent acquisitions are stakes in the firm operating the South Luzon Expressway and Skyway system.
Recently, SMC announced its entry into Philippine Airlines and Air Philippines via a 49% equity interest in the holding companies of both airlines.
Its oil refining and fuel flagship, Petron, has also completed the acquisition of 65% of Esso Malaysia Berhad and 100% of ExxonMobil Malaysia Sdn Bhd and Exxon Mobil Borneo Sdn Bhd.