Details about San Miguel Food and Beverage Net Income
SAN MIGUEL FOOD AND BEVERAGE – The business giant revealed its net income from January to September 2021 amid the pandemic.
The pandemic affected almost all businesses in the Philippines. There are a lot of companies that were not able to withstand the impacts of the pandemic and had no choice but temporarily or permanently close. This further results in the loss of jobs for many people.
With regards to other businesses like the giant ones, they were able to stay afloat amid the pandemic due to certain business strategies and investments. They implemented ways to be able to continue providing services to as many people as they can amid the crisis.
One of these big businesses that managed to stay afloat amid the pandemic is San Miguel Food and Beverage. But, even the company giant recognizes that the impacts of the pandemic are still present.
Based on a report on ABS-CBN, San Miguel Food and Beverage’s net income rose by 68% from January to September 2021. In amount, a P24.2 million growth was noted from January to September this year.
Compared to the same period’s net income in 2020, this year’s net income had a 14% growth to P221.7 billion. According to SMFAB President Ramon Ang, their results put emphasis on their food and beverage portfolio’s strengths and breadth. They are hopeful that “the worst is behind us and we are on the path to a new better normal”.
Ang further expressed that their balance sheet is in a strong position and they want to continue in making investments in the areas that may affect their long-term goal to deliver shareholder value while securing their help to communities that are in need. Based on the report, the growth of the company is credited to its “solid strategic pivot” that helped them address the challenges posed by the current situation.
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