San Miguel profit down in H1 2019

August 14, 2019

San Miguel Food and Beverage Inc (SMFB) reported a consolidated net income of USD 281.6 million in H1 2019, down 5% from a year ago. One factor that led to the decline is the company’s poultry segment, which reeled from oversupply that began in late 2018. However, with chicken prices now on the rise, SMFB sees recovery sooner than expected. To ease pressure on margins, it has been focusing on growing its value-added business, posting double-digit growth for its prepared and packaged food segment, as well its processed meats and dairy.