San Miguel’s Food Division revenues up 2% in Q1

June 2, 2020

San Miguel Food and Beverage Inc’s (SMFB) Food Division saw its Q1 2020 consolidated revenues rise by 2% to USD 655.35 million. A disclosure to the Philippine Stock Exchange said revenues of the Prepared and Packaged Food business expanded by 16% with strong demand in the processed meats, dairy, spreads, biscuits, and coffee segments. This offset the 3% decline in revenues from its Protein and Animal Nutrition business, which nevertheless saw higher sales of some food categories as consumers stocked up on essential supplies for the quarantine period.