San Miguel’s beer unit continues to thrive with steady growth in profit

San Miguel Brewery Inc. (SMB) continues to show impressive growth with net income rising by 6.4 percent to P21.8 billion, thanks to its improved operations both domestically and overseas.

SMB’s net sales also saw a remarkable increase, growing by 17.2 percent to P136.2 billion. This was complemented by a 9.7 percent increase in operating income to P29.5 billion, which can be attributed to the company’s volume growth, favorable brand mix, and implementation of cost-efficiency measures.

To maintain its momentum, SMB launched new products such as the San Mig Flavored Water and San Mig Hard Seltzer, which cater to the changing consumer preferences towards healthier and low-alcohol options.

Additionally, the company unveiled its latest offering, San Miguel Cerveza Blanca, which targets the upscale market.

SMB’s focus on expanding its specialty beer portfolio also paid off in its overseas operations. Indonesia and Thailand both reported increased sales and profit, driven by SMB’s specialty beers and premium brands.

SMB’s exports operations likewise experienced a boost in volume and profit for the third consecutive year, mainly driven by contributions from the UAE, Qatar, US, Bahrain, as well as new markets in Asia and Africa.

Overall, SMB’s steady growth and strategic initiatives demonstrate its commitment to providing quality and innovative beer products to consumers, while maintaining its position as a leading player in the industry.