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Diversified conglomerate San Miguel Corp . on Monday reported a 66% increase in its net income for the first half of the year, on the back of the strong performance of most of its business segments during the period. SMC said its net income climbed to P33.5 billion, while operating income expanded by 22% to P85.1 billion, supported by the improved margins in the power business and lower raw material costs. Revenues for the first half rose by 15% to P789.0 billion.
9-billion operating income, with expectations of a stronger performance in the second half.Ginebra San Miguel Inc. posted a 31% increase in operating income to P4.4 billion, while San Miguel Foods — which produces Tender Juicy Hotdogs, Purefoods Luncheon Meat, Magnolia dairy, and San Mig Coffee — doubled its operating income to P6.4 billion.San Miguel Global Power Holdings Corp. increased its operating income by 56% to nearly P23.0 billion, while fuel and oil unit Petron Corp.
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