Consolidated revenues also slipped 10 percent year-on-year to P279.3 billion from P310.8 billion. Consolidated operating income reached P33.4 billion and consolidated earnings before interest, taxes, depreciation and amortization amounted to P46.8 billion. In the second half, consolidated revenues rose by 27 percent to P156.5 billion from P122.8 billion in the first. SMB’s net income reached P17.5 billion last year and its consolidated revenues hit P107.9 billion. Distillery arm Ginebra San Miguel Inc. saw a record P2.8 billion in net profit, up 65 percent year-on-year.

Source: Manila Times March 11, 2021 16:13 UTC