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SAN Miguel Brewery Inc. (SMB) said it enjoyed a single-digit growth
for the first half of the year.
In a disclosure to the Philippine Stock
Exchange, the beer brewer said its net sales for the first six
months increased by 9 percent to P23.8 billion compared with last
year’s P21.9 billion.
The company attributed the marginal growth to
the 7 percent increase in sales volume of beer.
Its operating income grew by 25 percent to P7.2
billion compared with last year’s P5.7 billion.
“Despite the more challenging economic
environment and added pressure on the consumers’ disposable
income, [we] have turned in very strong results,” Ramon S. Ang,
SMB president, said.
He said the brewery will continue to improve
sales and execution across all distribution levels.
The company’s marketing resources were focused
on outlet-based promotions and on reinforcing flagship brand, San
Miguel Pale Pilsen, SMB said.
It said it is also undertaking new programs to
offer wider availability and ensure consumer satisfaction.
In a move to conserve financial resources,
programs to reduce inventory and trade receivable levels were also
implemented alongside other cost saving measures, the company said.
-- Katrina Mennen A. Valdez
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