SMC sustains strong 1Q results in April

San Miguel Corporation (SMC) notched further gains from its robust first quarter performance with net income for the January to April period rising 32% to P2.42 billion while consolidated net sales revenue reached P53.5 billion, up 18% versus last year. Earlier, the Company reported growth in net income of 30% and revenue growth of 15% for the first quarter.

(PRWEB) June 2, 2004 -- SMC sustains strong 1Q results in April

San Miguel Corporation (SMC) notched further gains from its robust first quarter performance with net income for the January to April period rising 32% to P2.42 billion while consolidated net sales revenue reached P53.5 billion, up 18% versus last year. Earlier, the Company reported growth in net income of 30% and revenue growth of 15% for the first quarter.

With continued strong sales of both domestic and international beer operations, coupled with the positive performance of all of SMCs businesses, consolidated operating income for the period ending in April amounted to P4.96 billion, 39% above last years level. Corporate volume growth as of April is 8% higher than a year earlier, a further improvement from the 6% gain in the first three months.    

Domestic beers year-to-date operating income amounted to P2.84 billion, 29% better than last year. April year-to-date revenue registered a 26% increase to P12.6 billion with volume growth remaining strong at a 23% gain over 2003.    

International beer sales were likewise brisk, registering a 15% increase in volume for the first four months of 2004. Sales revenue reached US$79.1 million.
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