San Miguel 9-mo profit ballooned eightfold

San Miguel Corp. enjoyed a persistent high growth in the January-September period, with the last quarter expected to provide a further boost to the conglomerate’s bottom line.

In a disclosure, the firm said its net income attributable to equity holders of the parent company ballooned by 687 percent to P39.21 billion from P4.98 billion a year ago. Consolidated earnings also surged by 112 percent to P78.643 billion from the P37.1 billion booked in the same period last year.

Consolidated earnings before interest, taxes, depreciation and amortization stood at P194.3 billion, up 16 percent. San Miguel’s top line, however, fell by 91 percent to P1.09 trillion from P1.179 trillion due to weaker crude prices and the deconsolidation of select power assets.

See Also

PH FDI stayed positive in Aug despite headwinds

While it saw “external pressures” in the fuel and oil segments, the group received strong contributions from its food, spirits,power and infrastructure businesses.