{"id":248216,"date":"2020-03-13T06:21:11","date_gmt":"2020-03-13T10:21:11","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=248216"},"modified":"2020-03-13T06:21:11","modified_gmt":"2020-03-13T10:21:11","slug":"san-miguel-revenues-hit-p1-02-t-in-2019","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/03\/13\/san-miguel-revenues-hit-p1-02-t-in-2019\/","title":{"rendered":"San Miguel revenues hit P1.02-T in 2019"},"content":{"rendered":"<figure id=\"attachment_238229\" aria-describedby=\"caption-attachment-238229\" style=\"width: 1620px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/11\/1620px-San_Miguel_Corporation.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-238229\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/11\/1620px-San_Miguel_Corporation.jpg\" alt=\"\" width=\"1620\" height=\"1080\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/11\/1620px-San_Miguel_Corporation.jpg 1620w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/11\/1620px-San_Miguel_Corporation-300x200.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/11\/1620px-San_Miguel_Corporation-768x512.jpg 768w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2019\/11\/1620px-San_Miguel_Corporation-1024x683.jpg 1024w\" sizes=\"auto, (max-width: 1620px) 100vw, 1620px\" \/><\/a><figcaption id=\"caption-attachment-238229\" class=\"wp-caption-text\">FILE: San Miguel Corporation Headquarters at Ortigas Center, Pasig City (<a href=\"https:\/\/commons.wikimedia.org\/w\/index.php?curid=21557138\">Photo By Elmer B. Domingo\/Wikimedia Commons, CC BY-SA 3.0<\/a>)<\/figcaption><\/figure>\n<div dir=\"auto\"><strong>MANILA<\/strong>\u00a0\u2013 Strong sales from its food, beverage and power businesses kept San Miguel Corporation (SMC) consolidated revenues in 2019 steady at PHP1.02 trillion at par with year-ago results.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Consolidated operating income, however, ended slightly lower at PHP115.7 billion due to a challenging operating environment faced by Petron and San Miguel Foods.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Net income ended at PHP48.6 billion, also at par with 2018.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">San Miguel Food and Beverage Inc.\u2019s consolidated revenues reached PHP310.8 billion, 9 percent higher than the same period last year.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Higher revenues were boosted by strong volumes of beer and spirits, up by 6 percent and 14 percent, respectively, along with better selling prices across its businesses.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Net income grew 6 percent at PHP32.3 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">SMC Global Power Holdings Corp. ended the year with power revenues rising 12 percent to PHP135.1 billion, and net income significantly higher by 73 percent to PHP14.4 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Petron booked consolidated revenues amounting to PHP514.4 billion, down 8 percent versus 2018, on account of lower average selling prices of fuels and a slight decline in consolidated volumes.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Net income settled at PHP2.3 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The company faced many challenges throughout the year: volatile international prices that resulted in significantly weaker margins, a major shutdown of its Bataan Refinery due to an earthquake, the implementation of the second tranche of the excise tax increase, and the continued proliferation of white stations.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Meanwhile, SMC Infrastructure\u2019s operating toll roads posted a combined 5 percent growth in vehicular traffic volume compared to the same period last year.\u00a0<em><strong>(PR)\u00a0\u00a0<\/strong><\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0\u2013 Strong sales from its food, beverage and power businesses kept San Miguel Corporation (SMC) consolidated revenues in 2019 steady &hellip;<\/p>\n","protected":false},"author":44,"featured_media":238229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-248216","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/248216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=248216"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/248216\/revisions"}],"predecessor-version":[{"id":248217,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/248216\/revisions\/248217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/238229"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=248216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=248216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=248216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}