Prøve GULL - Gratis
SMC Q1 net income soars to P43.4B on forex, asset gains
Business World Philippines
|May 15, 2025
ANG-LED conglomerate San Miguel Corp. (SMC) reported a sharp increase in its first-quarter net income to P43.4 billion from P8.9 billion a year earlier, fueled by foreign exchange (forex) gains and a one-time gain from the partial sale of power assets, despite a decline in consolidated revenue.
-
Core net income rose by 31% to P19 billion, supported by cost management efforts and improved performance across most core businesses, SMC said in an e-mail statement on Wednesday.
Revenue declined by 8% to P360.9 billion, weighed down by lower crude prices and reduced contributions from the power business following the deconsolidation of the Ilijan Power Plant.
The decline was partially offset by stronger sales from the food, hard liquor, and infrastructure units.
Denne historien er fra May 15, 2025-utgaven av Business World Philippines.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Business World Philippines
Business World Philippines
ACEN-Citicore JV secures P2.59-B loan for solar operations
ACEN CORP. and Citicore Solar Energy Corp.'s joint venture (JV) Greencore Power Solutions 3, Inc. has secured a P2.59-billion loan from the Development Bank of the Philippines (DBP), aimed at supporting the Pampanga solar plant and its renewable energy operations, the companies said.
1 min
December 12, 2025
Business World Philippines
DragonFi Securities partners with CIMB Bank PH for in-app savings account
DRAGONFI Securities, Inc. has partnered with CIMB Bank Philippines, Inc. (CIMB Bank PH) to launch a savings account for traders that is accessible within its app.
1 mins
December 12, 2025
Business World Philippines
Taiwan eyes closer economic links with PHL amid China tensions
Taiwan is looking to bolster its economic ties with the Philippines through potential engagements and industry expansion, as both grapple with shared security concerns in the region, Taiwanese officials said.
3 mins
December 12, 2025
Business World Philippines
P20-per-kilo rice program rolled out to 82nd province
THE Department of Agriculture (DA) said it completed the nationwide rollout of its P20-per-kilo rice program, which is now present in all 82 provinces following launches in Sultan Kudarat and Maguindanao.
1 min
December 12, 2025
Business World Philippines
ADB approves $500-million loan to support PHL'S blue economy
THE ASIAN Development Bank (ADB) has approved a $500-million (around P29.56-billion) policy-based loan to support the development of the Philippines' blue economy and improve the resilience of coastal communities.
2 mins
December 12, 2025
Business World Philippines
We are hardwired to sing and it’s good for us, too
ON THE FIRST SUNDAY after being named leader of the Catholic Church in May 2025, Pope Leo XIV stood on the balcony of St. Peter’s Basilica in Rome and addressed the tens of thousands of people gathered.
4 mins
December 12, 2025
Business World Philippines
PNB raises P15.7 billion from sustainability bond offering
PHILIPPINE National Bank (PNB) has raised P15.7 billion from the sale of dual-tranche bonds to fund sustainable initiatives.
1 mins
December 12, 2025
Business World Philippines
Flood control fiasco imperils PHL credit rating-Fitch Ratings
THE Philippine economy continues to bear the brunt of the ongoing flood control corruption scandal, Fitch Ratings said, noting that further unrest could spill over to the country's credit rating.
3 mins
December 12, 2025
Business World Philippines
Why some countries stay happier
My wife and I arrived in Copenhagen, Denmark on a gray afternoon after a business trip in Paris, expecting the usual European chill, yet what struck us first was not the weather but the calmness of life unfolding around us, in contrast to the hum of Paris and the chaos in Manila.
4 mins
December 12, 2025
Business World Philippines
A risk conscious pause for monetary policy?
A rate cut may be misinterpreted, not as support for growth, but as a reaction to worsening political conditions or an attempt to mask deeper structural issues.
6 mins
December 12, 2025
Listen
Translate
Change font size