Ginebra Revenues Reached PHP14.7B in 1H 2019
Ginebra San Miguel Inc. (PSE: GSM), the hard liquor unit of San Miguel Food and Beverage Inc. (SMFBI, PSE: FB), continued to deliver robust results for the first six months of the year as revenues reached PHP14.7 billion, 20% higher than last year.
Operating income jumped by 85% to PHP1.6 billion and net income surged by 94% to PHP980 million. Consolidated EBITDA reached PHP2 billion, 66% higher than the previous year.
Aside from wider distribution and improved efficiencies from operations, the campaigns of core brands Ginebra San Miguel and Vino Kulafu for the first half of the year helped to further drive growth as volumes rose 17% against last year. Supporting brands GSM Blue Light Gin and the GSM Blue Flavors line registered an aggregate volume growth of 70%.
Ginebra San Miguel is celebrating its 185th anniversary this year.
