SMFB nine-month profit falls nine per cent to ₱30.6 billion
Revenue rose two per cent to ₱309.6 billion, with food sales increasing while weaker consumer spending weighed on beer volumes.
San Miguel Food and Beverage Inc. (SMFB) reported net income of ₱30.6 billion for January to September 2026, down nine per cent as demand weakened and operating costs rose. The company’s consolidated revenue increased two per cent to ₱309.6 billion.
SMFB said inflation, higher commodity prices and slower economic growth were putting pressure on household budgets. It increased spending on brands to support demand among more selective consumers, contributing to a nine per cent fall in operating income to ₱40.6 billion.
Sales at San Miguel Foods rose six per cent to ₱151.4 billion. Stronger results from animal nutrition, processed meats and dairy helped counter weaker demand for poultry and flour.
San Miguel Brewery Inc. recorded sales of ₱109.2 billion, down one per cent as reduced consumer spending weighed on volumes. Domestic beer sales totalled ₱96.7 billion. International sales fell five per cent to US$206.9 million, with the company attributing the volume impact to the Middle East conflict.
Ginebra San Miguel’s profit grew three per cent to ₱6.5 billion, supported by cost controls and operational efficiency. Its revenue increased one per cent to ₱48.9 billion.
SMFB chairman Ramon Ang said the group would keep investing in capacity and brands to prepare for a recovery in demand, while working to maintain affordability and control costs.
