San Miguel Corp.’s unit Ginebra San Miguel Inc. booked a robust first semester performance, buoyed by steady volume growth resulting from strategic marketing campaigns that helped boost consumption.
GSMI said volumes in the first six months of 2023 reached 22.2 million cases, up 1 percent from the same period last year.
It said with sustained volume growth, sales revenues rose 10 percent to P25.4 billion, while gross profit improved 2 percent to P6.2 billion.=
Income from operations went up 3 percent to P3.4 billion, while EBITDA surged 53 percent to P5.5 billion.
Net income in the first six months amounted to P4.1 billion, or 64 percent more than what it earned in the same period last year.
“Through well thought-out strategies and campaigns, GSMI has continued to stay on top of its market, and has become a reliable performer and contributor to total San Miguel Group performance. With the initiatives it has launched, we’re looking to further build on its momentum and continue performing well for the rest of the year,” said SMC president Ramon Ang.