Total operating income also climbed by 13 percent to P13.1 billion, primarily driven by its food and spirits divisions.
“We remain committed to leveraging our strengths to address challenges and continue delivering exceptional value to our stakeholders,” he added.
SMFB said its food division revenues climbed to P43 billion, a 2 percent increase, due to significant contributions from the processed meats, dairy, and coffee segments.
The spirits division also performed well, with revenues growing 17 percent due to an 8 percent increase in volumes and higher selling prices. This bolstered operating income by 40 percent to P2.3 billion.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
