SMPFC Registers 29% Net Income Growth in First Nine Months Dated Nov. 8, 2016

November 08, 2016

San Miguel Pure Foods Company Inc. (SMPFC) reported robust results for the first nine months of the year due to the strong performance of its Branded Value-Added businesses.

Improved efficiencies, lower raw material costs, and wider distribution also contributed to the notable growth.

Net income reached Php3.8 billion, 29% higher than the same period last year. Consolidated revenues meanwhile amounted to Php80.6 billion, a 5% increase.

Revenues from the Milling business declined 4% as a result of lower selling prices brought about by the prevailing downtrend in global wheat prices and intense competition