MANILA, Philippines --- Consumer giant San Miguel Food and Beverage Inc. posted a 1-percent growth in first quarter net profit to P7.4 billion on higher volumes delivered by the beer, liquor and food businesses. Consolidated revenues rose by 14 percent year-on-year in the first quarter to P75.7 billion, led by the beer and hard liquor businesses which respectively grew by 18 percent and 24 percent. The food business also grew by 4 percent. Consolidated income from operations, however, fell by 1 percent year-on-year to P10.8 billion. The continuing chicken oversupply and the higher raw material costs for some of the products in the food segment led to a decline in margins. Consolidate...
Keep on reading: San Miguel Food and Beverage nets P7.4B in first three months of 2019
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