SMPF 1st Semester Revenues Up 4% at P49.2 Billion

August 08, 2014

San Miguel Pure Foods reported first semester 2014 consolidated revenues of Php 49.2 billion, 4% higher than the same period in 2013. Growth was driven primarily by its Agro, Milling and Dairy businesses.

Operating income grew 12% to P2.7 billion, on the back of the strong performance of the Company’s poultry and meats, flour and dairy businesses, which benefitted from increased volumes, higher selling prices, and better efficiencies in hog-raising.

Net income reached P1.7 billion while EBITDA was at P4.1 billion.

The Agro and Milling businesses, which consist of feeds, poultry and meats and flour, registered combined revenues of Php 38.7 billion, a 7% growth versus last year. The higher volumes are attributed to strong retail outlet sales for poultry and meats and increased demand for customized flour, premixes and specialty flours.

Meanwhile, the Branded Value-Added businesses generated combined revenue of Php 10.2 billion, 1% higher than the same period in 2013.

The Company reported growth in its foodservice channel as a result of the expansion of its customer base, reflecting greater demand for its products and services.