San Miguel Food and Beverage Inc. (SMFB) is optimistic about sustaining its growth momentum in 2018 as the economy is projected to remain strong, its president said on Friday. During the company’s stockholders’ meeting in Mandaluyong City, San Miguel Pure Foods President Francisco Alejo 3rd said increased food spending would boost the company’s performance this year. Expansion projects are in “full swing,” which would further boost the company’s operations, Alejo said. Sources report that, for this year, the company’s net income guidance for its beer segment is P24 billion; food, P8 billion, compared with 2017’s P6.9 billion; and Ginebra San Miguel Inc., P1 billion. The Securities and Exchange Commission (SEC) recently approved the company’s move to change its corporate name from San Miguel Pure Foods Co. Inc. to San Miguel Food and Beverage Inc.

Source: Manila Times May 11, 2018 16:52 UTC