BUSINESS conglomerate San Miguel Brewery Inc. (SMB), announced that their brewing unit of conglomerate San Miguel Corp. (SMC), posted a double-digit growth during January to September of 2023.

According to a statement SMB said that they have a consolidated net income of P19.4 billion.

This is up by 20.2% year-on-year.

SMB said that this is on a P108.3 billion consolidated revenues, which grew by 9.4% from P99 billion.

According to the SMB statement, their nine-month period performance also was due to the higher volumes for domestic and international operations.

The company said that their domestic beer volumes grew by 4.3%.

The SMB explained that this was due to “dynamic brand campaigns, targeted sales programs and a sustained economic recovery that saw more markets reopening amidst the backdrop of rising inflation and living costs.”