SMFB earnings drop to P30.6 billion in 9 months
MANILA, Philippines — San Miguel Food and Beverage Inc. (SMFB) registered a nine percent decline in net income in the first nine months of 2026 as slower consumer demand and rising operating costs pushed down earnings.
The company said profit for the January to September period declined to P30.6 billion, while consolidated revenues inched up by two percent to P309.6 billion.
SMFB noted that high inflation, elevated commodity prices and slower economic growth have placed additional strain on household spending.
“This has been a challenging year so far for Filipino consumers, so we continue to make every effort to keep our products affordable while managing our costs carefully,” SMFB chairman Ramon Ang said.
The company also increased brand spending during the period to sustain demand as consumers have become more selective. This has caused operating income to drop by nine percent to P40.6 billion.
San Miguel Foods posted a six percent increase in sales to P151.4 billion due to better performances from its animal nutrition, processed meats and dairy products, helping offset slower demand for poultry and flour.
Beer remained the largest contributor, with San Miguel Brewery Inc. recording P109.2 billion in sales during the period. This was a one percent decline due to softer consumer spending affecting sales volumes.
Sales of beer in the domestic market reached P96.7 billion, while international sales slipped by five percent to $206.9 million as the Middle East conflict impacted sales volume.
Ginebra San Miguel’s net income expanded by three percent to P6.5 billion, driven by continued cost management and operational efficiency. Revenues went up by one percent to P48.9 billion during the nine-month period.
“Our brands remain strong and our balance sheet has strengthened further. We will continue to invest in capacity and in our brands so we are ready when demand picks up. We look forward to a strong holiday season, traditionally our busiest time of the year,” he added.
abtestabtest Malampaya Phase 4 achieves first gas delivery By Alyana Uy | 19 hours ago Phase 4 of the Malampaya Project reached its first gas milestone, marking the official connection of two new wells near Palawan... Business Business expectations By Boo Chanco | 10 hours ago The latest Business Expectations Survey of the BSP headlines optimism for the rest of the year and into next year. While... Business Staying home By Marianne Go | 10 hours ago Bad news for the travel and tourism sector: Filipinos are staying home. Business Globe backs new DICT chief’s priority agenda By Elijah Felice Rosales | 10 hours ago Globe Telecom Inc. is ready to support the priority agenda of the new chief of the Department of Information and Communications Technology (DICT), particularly on raising network reach and security guardrails. ... Business Business groups urge Congress to scrap P180-billion infra insertions By Alyana Uy | 7 days ago Almost 30 business organizations called on Congress to remove congressional additions amounting to almost P180 billion from... Business Latest More in Business Inflation heats up to 7.8% in October A cleaner, cheaper way to power remote areas Stocks rise as peso strengthens back to 62:$1 Credit growth quickens to 11.4% in September abtest Metrobank profit hits P36.3 billion in 9 months By Keisha Ta-Asan | 10 hours ago Metropolitan Bank and Trust Co. saw its net income slip by 2.5 percent to P36.33 billion in the first nine months from P37.28 billion a year ago, as higher lending income was offset by weaker trading revenues, rising... Business Former MWSS chief named new Maynilad president/CEO By Adrian Kenneth Halili | 10 hours ago Maynilad Water Services Inc. has appointed a former Metropolitan Waterworks and Sewerage System chair as its next president and CEO beginning next year. Business Firm sending Pinoys for AI training in US By Elijah Felice Rosales | 10 hours ago A local innovation firm founded by a former PLDT Inc. executive has invested $1 million to put up an academy that aims to... Business SEC OKs Philippines Green Equity guidelines By Richmond Mercurio | 10 hours ago The Securities and Exchange Commission has approved revised guidelines on Philippine Green Equity, transferring authority... Business Chinabank earnings rise 12% to P22.6 billion By Keisha Ta-Asan | 10 hours ago China Banking Corp. posted a 12-percent increase in net income to P22.6 billion in the first nine months, driven by stronger... Business Recommended Joseph Sy skips Senate probe on fake citizenship 10 hours ago Mining magnate Joseph Sy skipped yesterday’s Senate hearing on his alleged fake Filipino citizenship. BusinessJOSEPH SY Philippines embassy in Washington hopes for immigration policy changes 10 hours ago The Philippines’ top diplomat in Washington hopes for changes in the United States’ immigration policy after the... BusinessJOSEROMUALDEZ VP defense seeks subpoena for 24 witnesses 10 hours ago The Senate impeachment court has been asked by the defense camp to subpoena 24 witnesses for the resumption of Vice President... BusinessDUTERTESARA DUTERTESENATE LIST: VP Sara’s witnesses for Nov. 9–13 hearings 18 hours ago Vice President Sara Duterte’s lawyers have submitted a witness lineup for the Senate impeachment proceedings... BusinessDEFENSEDUTERTESARA DUTERTE'S IMPEACHMENT Fact check: Viral post falsely tags e-trikes at Marcos’ plant visit as gov't vehicles 19 hours ago Viral post mislabels e-trikes at Marcos’ plant visit as new government vehicles. BusinessBONGBONG MARCOSFACT CHECKFACT-CHECK next Recommended Joseph Sy skips Senate probe on fake citizenship Mining magnate Joseph Sy skipped yesterday’s Senate hearing on his alleged fake Filipino citizenship. 10 hours ago JOSEPH SY Philippines embassy in Washington hopes for immigration policy changes The Philippines’ top diplomat in Washington hopes for changes in the United States’ immigration policy after the Democrats won both the House and the Senate in the midterm elections. 10 hours ago JOSE ROMUALDEZ VP defense seeks subpoena for 24 witnesses The Senate impeachment court has been asked by the defense camp to subpoena 24 witnesses for the resumption of Vice President Sara Duterte’s impeachment trial on Nov. 9. 10 hours ago DUTERTE SARA DUTERTE SENATE LIST: VP Sara’s witnesses for Nov. 9–13 hearings Vice President Sara Duterte’s lawyers have submitted a witness lineup for the Senate impeachment proceedings. 18 hours ago DEFENSE DUTERTE SARA DUTERTE'S IMPEACHMENT Fact check: Viral post falsely tags e-trikes at Marcos’ plant visit as gov't vehicles Viral post mislabels e-trikes at Marcos’ plant visit as new government vehicles. 19 hours ago BONGBONG MARCOS FACT CHECK FACT-CHECK OK Are you sure you want to log out? Yes No X Login Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!
