MANILA, Philippines — San Miguel Food and Beverage Inc. (SMFB) registered higher revenues in the second half.
SMFB president and CEO Ramon Ang said the worst of the pandemic is over and the company looks forward to 2021 with optimism.
“We will continue to adapt to the changing market conditions and leverage on lessons learned. Soon, we will re-emerge stronger and more resilient on the path to long-term profitable growth,” Ang said.
Revenues rose by 27 percent to P156.5 billion in the second half while consolidated operating income jumped 94 percent to P22 billion.
Ang said despite the challenges of 2020, the company was still able to deliver volume growth in the remainder of the year.
Read full story HERE.