SMC's P29.6B first-half profit reverses loss last year

  • 📰 CNN Philippines
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 9%
  • Publisher: 63%

Conglomerate San Miguel Corporation saw its net income hit ₱29.6 billion in the first six months of 2021, a sharp turnaround from a loss of ₱4 billion a year earlier, despite unending COVID-19 lockdowns.

Philippines Headlines News

Philippines Latest News, Philippines Headlines

Consolidated revenues also jumped 16% to ₱410.1 billion buoyed by its fuel, power, infrastructure, and food businesses.

San Miguel Food and Beverage, Inc. posted a net income of ₱17.4 billion in the first half, while its consolidated revenues registered ₱146.8 billion. SMC Global Power Holdings Corporation's bottom line last year stood at ₱12.2 billion, while revenues were up 5% to ₱60.3 billion.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in PH
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

One of the business empires that profit/ed from the pandemic, yet still being gifted with huge tax cut, while some mission-oriented organizations like schools were being harassed with increased taxes (at least given a respite for now).

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

San Juan just 7,953 COVID-19 jabs away from achieving herd immunity: mayorMANILA - San Juan City is just 7,953 second doses of COVID-19 vaccine away from achieving herd immunity, its mayor said Wednesday.
Source: ABSCBNNews - 🏆 5. / 83 Read more »

High-value individual nabbed with P2.38M worth of shabu in San Nicolas ProperCEBU CITY, Philippines -- A high-value individual was arrested by authorities with 350 grams of suspected shabu worth P2.38 million during a buy-bust operation in Barangay San Nicolas Proper
Source: cebudailynews - 🏆 8. / 71 Read more »

San Juan to start home vaccination of seniors, bedridden residents starting WednesdayMANILA, Philippines — San Juan City will start home vaccination of seniors and bedridden residents against COVID-19 starting on Wednesday. According to the city government, the home vaccination program will start in Barangay Batis at 10 a.m. and will be led by San Juan Mayor Francis Zamora. ADVERTISEMENT “We have to come up with this […]
Source: inquirerdotnet - 🏆 3. / 86 Read more »

Sony posts record Q1 profitSony raised its earnings outlook after a record first-quarter operating profit helped by pandemic demand for PlayStation 5, TVs, music and movies.
Source: ANCALERTS - 🏆 26. / 50 Read more »

Saudi Arabia increased executions in 2021 - rights groupRIYADH - Saudi Arabia ramped up executions in the first half of 2021 following a drop during its term as G20 president in 2020, Amnesty International said on Tuesday.
Source: ANCALERTS - 🏆 26. / 50 Read more »

Creamline hands Choco Mucho first loss, clinches semis in 5-set thrillerAfter absorbing a 1-2 set deficit against the Choco Mucho young guns, Alyssa Valdez and Creamline run away with a massive finishing kick! PVL2021
Source: rapplerdotcom - 🏆 4. / 86 Read more »