Industry News       English French Dutch Spanish German Russian Italian Portuguese Portuguese Danish Greek Romanian Ukrainean Chinese Polish Korean
Logo Slogan_Spanish


CASTLE MALTING NEWS en colaboración con www.e-malt.com Spanish
04 August, 2020



Brewing news The Philippines: San Miguel Corp’s beer unit sees January-June revenue drop to P42.8 bln from P70.3 bln last year

San Miguel Brewery said on August 4 its net income stood at P5 billion in the first half of the year.

This was 62 percent lower compared to the P13.3 billion income it booked during the same period in 2019, as sales of alcoholic drinks were hammered by lockdowns and liquor bans imposed to curb the spread of COVID-19.

The beer unit of San Miguel Corp reported P42.8 billion in revenues in the January-to-June period, down from P70.3 billion during the same period last year.

“Domestic operations volumes were lower than in the same six-month period last year, due to the implementation of the ECQ (enhanced community quarantine), liquor bans, the extended closure of beer selling outlets, as well as the imposition of higher excise taxes on beer products,” the company said.

San Miguel, however, said its beer and spirits subsidiaries showed signs of a strong recovery following the more than two months of lockdowns.

“Demand for our beer and liquor products remain strong, and if June and July are any indication, we’re seeing signs of a strong recovery in the second half of the year,” said San Miguel Corp president and chief operating officer Ramon Ang.

Ginebra San Miguel Inc, SMB’s sister firm, also reported a significant increase in demand, recording its highest volumes ever in June.

Ang said San Miguel’s beer and spirits subsidiaries are adapting to the new normal, and adjusting operations where needed.

“Despite the declaration of a new, two-week MECQ by government, I believe we’re in a better position now to build on our gains for the rest of the year and beyond. The strong demand we’re seeing is also a big encouragement,” Ang said, referring to the restoration of a stricter lockdown in Metro Manila and surrounding provinces this week.





Regresar



E-malt.com, la fuente de información global para los profesionales de la industria cervecera y de malteado. Los boletines quincenales de E-malt.com incluyen las últimas noticias de la industria, estadísticas en gráficos y tablas, precios mundiales de cebada y malta, y otra información relevante. Haga clic aquí para obtener acceso completo a E-malt.com. Si usted es un cliente de Castle Malting, puede obtener acceso gratuito al sitio web y publicaciones de E-malt.com. Contáctenos para obtener más información en marketing@castlemalting.com.














Utilizamos cookies para asegurarnos de brindarle la mejor experiencia en nuestro sitio web. Si continúa utilizando este sitio, asumiremos que está satisfecho con él.     Ok     No      Privacy Policy   





(libra 0.8164 sec.)