Diversified conglomerate San Miguel Corporation (SMC) posted a consolidated net income of P34.2 billion in the first nine months of 2021, a 218% increase from the P10.7 billion recorded in the same period in 2020 as the company continued its steady recovery from the economic impacts of the COVID-19 pandemic.
In a disclosure to the Philippine Stock Exchange on Thursday, SMC said its consolidated revenues jumped 22% to P650.6 billion driven by volume growth across its major businesses.
“The operating environment remains very challenging, but we’ve managed to stay resilient, focus on our goals, and quickly adapt to changing conditions. We’re determined to keep this momentum going, especially with the easing of quarantine restrictions,” said SMC president Ramon Ang.
SMC’s San Miguel Food and Beverage Inc. (SMFB) saw its consolidated revenues grow by 14% to P221.7 billion, as its food, beer, and spirits divisions all registered growth.
SMC Global Power Holdings Corp. (SMCGP) also recorded off-take volumes of 20,533 gigawatt-hours (GwH), 3% up versus the same period last year, driven by longer operating hours for the Masinloc, Limay, and San Roque Power Plants.
SMCGP’s consolidated revenues increased by 7% to 93.9 billion, while net income declined by 5% to P13.7 billion partly affected by ongoing gas restrictions at the Malampaya field, and the extended outage of the Sual plant.
Meanwhile, Petron Corp. reported a consolidated net income of P5.0 billion for the first nine months, a turnaround from the P12.6 billion net loss it reported in 2020.
SMC Infrastructure generated revenues of P13.3 billion for the first nine months of the year, up 29% from the previous year, as average daily traffic volumes grew by 35% at all operating toll roads, particularly SLEX, STAR and the Skyway system.
“We are committed to finding innovative ways to shape a more sustainable future not only for SMC but for our country. At the same time, we recognize the need to continue supporting the most marginalized communities and sectors that have yet to recover and rebuild from the impacts of the pandemic,” Ang added. — BM, GMA News
San Miguel Corp. nets P34.1 billion in 9 months of 2021, up 218%
Source: News Panda Philippines
About admin
0 comentários :
Post a Comment