Operating income amounted to PHP 7.6bn in the first semester, a 6% increase from the previous year, while net income after tax grew by 4% to PHP 4.86bn for the semester. Earnings growth was driven by continued cost management efforts and more stable raw material prices.
The SMB Inc board of directors approved cash dividends of 0.11 centavos per share to all shareholders of record as of 28 July 2009 payable on 10 August 2009.
San Miguel Brewery Inc held its first ever stockholders meeting today. Earlier this year, the brewery completed a record-breaking PHP 38.8bn bond offering – the largest ever debt offering by a corporate issuer in the Philippines.
Proceeds from the bond offering were used to purchase the domestic beer brands and brewery land assets from San Miguel Corporation.
Source: San Miguel Brewery
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