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November 8, 2016

San Miguel Pure Foods 9M profits get boost from lower input costs

San Miguel Pure Foods, the Philippines-based business, has reported a jump in profits in the first nine months of the year, helped by higher sales but boosted by a decline in input costs.

By Dean Best

San Miguel Pure Foods, the Philippines-based business, has reported a jump in profits in the first nine months of the year, helped by higher sales but boosted by a decline in input costs.

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The company’s net income reached PHP3.8bn (US$78.2m), 29% higher than the same period last year.

San Miguel Pure Foods, which owns brands including Magnolia cheese and Purefoods meats, said its “robust results” had come from a “strong performance” of its “branded, value-added businesses”.

The group’s profits were helped by improved efficiency, lower raw material costs and wider distribution.

Consolidated revenues grew 5% to PHP80.6bn. Revenues from the company’s milling business declined 4% as a result of lower selling prices amid what it called “the prevailing downtrend” in global wheat prices and intense competition.

San Miguel Pure Foods, the food arm of Philippines conglomerate of San Miguel Corp., has other brands including Monterey marinated meats, Star margarine and La Pacita biscuits.

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Identify the trends of tomorrow using filings sentiment analysis

Business sentiment continues to improve, showing a clear recovery since the onset of COVID-19. Sentiment in 2021 was up by 8% compared to 2020.   Consumer industries had the highest sequential filings sentiment growth in Q3 2021. Optimism around digital themes and general outlook drove the positive trend in overall business sentiment.   GlobalData’s Filing Analytics Annual Report 2021 on the Consumer industries provides insights into sentiment and mention trends for companies, geographies, and themes. Get real-time analysis of:  
  • Quarterly & annual reports 
  • Earnings call transcripts 
  • IPO filings 
  • Events presentations 
  • ESG filing trends  
Understand the overall outlook for Consumer and spot the topics and themes that will be most impactful in the next few years.   Download the full report to understand what to expect and how to align your business for success.  
by GlobalData
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