ABS-CBN News
Posted at Nov 12 2021 11:14 AM
MANILA - San Miguel Corp more than doubled its consolidated net income for the first 9 months of the year to P34.2 billion from P10.7 billion in the same comparable period, it said Friday.
Consolidated revenues rose 22 percent to P650.6 billion due to volume growth across its major businesses, SMC said in a disclosure to the stock exchange.
"The operating environment remains very challenging, but we've managed to stay resilient, focused on our goals, and quickly adapt to changing conditions. We're determined to keep this momentum going, especially with the easing of quarantine restrictions," SMC president Ramon Ang said.
Metro Manila has been under the less stringent Alert Level 2 since Nov. 5.
Ang said SMC remains committed to investing in projects that would generate jobs, support the marginalized and aid economic recovery.
SMC said its major businesses, particularly Petron and Power Holdings delivered quarter-on-quarter volume and revenue growth.
San Miguel Brewery, Ginebra and San Miguel Foods meanwhile, continued to grow their volumes but at a slower pace due to mobility restrictions and liquor bans imposed.
San Miguel Corp is building the New Manila Airport in Bulacan. It also recently scored the approval to build the controversial Pasig River Expressway Project (PAREX).
San Miguel to clean up Pasig River 'with or without' PAREX, says Ang
San Miguel Corp said it will continue rehabilitating the Pasig River “with or without” the controversial tollway it has proposed to build.
San Miguel said its P2-billion Pasig River cleanup “is part of the much larger goal of SMC to clean up all the major waterways in Metro Manila and nearby provinces.”
“With or without the PAREX project, we will continue to clean the Pasig River. Water sustainability has been our advocacy within the company for many years now,” said SMC president and CEO Ramon Ang.
The SMC chief said noted that they are also dredging the Tullahan River.
With government’s support and cooperation from stakeholders, we hope to bring the Pasig River back to a level where it can be enjoyed by more Filipinos,” Ang said.
SMC got the greenlight to build PAREX, or the Pasig River Expressway last month after signing an agreement with various government agencies.
PAREX will be a 19.4-kilometer, six-lane elevated expressway along the banks of Metro Manila’s biggest river. It is expected to reduce travel time between the Eastern and Western sections of Metro Manila.
The project however has come under fore from environmentalists and heritage advocates. Opponents of the project say that instead of solving the capital region’s traffic problems, PAREX will only worsen it by inducing more people to use their cars.
They say the tollway will also worsen air pollution in the areas it will pass, and may affect heritage sites along the river.
Ang however has said that PAREX will incorporate bicycle and pedestrian lanes, as well as a bus rapid transit system for those without cars. He also denied that the tollway will impact heritage sites.
San Miguel adapts to pandemic, launches own online store
San Miguel Corp has officially launched its own online shopping platform which carries its well-loved brands, its president Ramon Ang said Thursday.
The SMC Hub, which went live on July 19, offers food, beverage and other essential products from San Miguel, Purefoods, Magnolia, Spam, Dari Creme and Star, among others, Ramon Ang said in a Facebook post late Thursday.
Consumers in select areas will be able to order their groceries and other needs online and have them delivered at their doorstep.
Ang said the Hub's offerings include ready-to-eat Filipino dishes such as beef pares, pork binagoongan, afritada, kare-kare, lechong paksiw, caldereta, callos, chicken pastel, Bicol express and the group's new vegetarian and meat-free options, canned and frozen seafood, fresh brown eggs as well as pet food.
"These same products allowed us to help many Filipinos and vulnerable communities in their time of need. I'm so proud of our teams at San Miguel Food and Beverage for always coming up with new ways to better serve the public," Ang said.
The online store caters to Metro Manila and nearby areas.
Magnolia, Purefoods, and Ginebra are among brands under SMC.
Many businesses shifted to digital platforms to reach their customers during the COVID-19 pandemic. Online grocery sales, logistics delivery operations and even digital financial transactions have surged due to mobility restrictions caused by the pandemic.