SMC projects profit growth this year
MANILA, Philippines – Diversified conglomerate San Miguel Corp. (SMC) expects business to be rosy in the next few years with an incoming president from Mindanao and an upgraded Bataan refinery spewing out billions of pesos.
With solid first quarter results, SMC’s profitability is seen soaring to greater heights in the coming quarters, its president and chief operating officer Ramon Ang said.
“All of our businesses are improving. Food is doing very well as well as the beer. Ginebra will turn around and start making good runs. Packaging is doing well also as well as tollways. The airport in Caticlan will start jet operation this second quarter and the power business will also be strong this quarter because of the summer season. By large, our second quarter is going to be much, much better,” Ang said.
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