MANILA, Philippines — San Miguel Food and Beverage Inc. (SMFB) grew its net income by eight percent to P30.5 billion last year. This was on the back of a 14 percent rise in consolidated sales to P286.4 billion as the beer, food and liquor businesses posted strong growth. San Miguel Brewery Inc., San Miguel Pure Foods and Ginebra San Miguel Inc. (GSMI) posted double-digit revenue growth. “Growth was attributed to higher volume growth of its Protein, Prepared & Packaged Food, and Animal Nutrition & Health businesses. Ginebra San Miguel, meanwhile, continued to enjoy strong volume growth for its brands including its Chinese wine brand, Vino Kulafu, which posted healthy volume growth in the Visayas and Mindanao regions.

Source: Philippine Star March 13, 2019 16:57 UTC