SAN MIGUEL Corp. (SMC) on Thursday said its consolidated net income for 2021 soared 120% to P48.2 billion and bounced back to pre-pandemic levels. READ:
“[Our] group-wide revenues, driven by higher sales across major businesses, rose 30% to P941.2 billion,” the listed conglomerate said in a media release.
“We are confident we can accelerate growth while equally responding to the needs of the environment and the communities we serve,” he said. Meanwhile, SMC Global Power Holdings Corp. saw its net income decline by 15% to P16 billion last from P18.9 billion previously after the company paid a contractor compensation for unfulfilled obligations.Its revenues, meanwhile, went up by 16% to 133.7 billion, which was largely because of cheaper average spot prices and average bilateral rates, as well as increased nominations from customers.
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