CONGLOMERATE San Miguel Corp. (SMC) announced that it had recorded a 141% growth in their bottom line from January to September of the year.

According to the company, this is due to the performance of their key subsidiaries.

The company said that the net income also increased to P31.2 billion, as their consolidated operating income also saw an upward trend of 29% to P110.2 billion. Meanwhile, the consolidated revenues fell 5% to P1.1 trillion.

“SMC’s resilient performance in the face of economic challenges is very encouraging. Our achievements highlight our consistent focus on quality and strategic business growth,” SMC president and chief executive officer Ramon Ang said.

“We remain dedicated to delivering exceptional service to our customers while contributing to broader national initiatives,” he added.

The report also said that San Miguel Food and Beverage Inc. had a P276.7-billion consolidated revenue during the period.

The consolidated net income also showed an increase of 4% which is now at P27.5 billion from the same period last year.

On the other hand, the San Miguel Brewery saw a 9% increase in consolidated revenues to P108.3 billion. It went hand in hand with the consolidated net income rose by 20% to P19.4 billion. 

The other popular brand, Ginebra San Miguel also grew by 62% in net income to P5.5 billion.