ANG-LED San Miguel Food and Beverage, Inc. (SMFB) said it aims to further expand its beer and spirits business nationwide to support the company’s growth plans for 2024.
The company aims to increase the market share of the Ginebra San Miguel spirits business, which is currently at 48%, SMFB Director and Chief Operating Officer for Spirits Emmanuel B. Macalalag said during the company’s annual stockholders’ meeting on Wednesday.
“The main objective of the company this year is to further strengthen our market position as a leader in the local spirits industry,” he said.
“If you talk about potential, there is still really a good room for growth for Ginebra San Miguel. If you look at geography potential, the company has very good potential in Visayas and Mindanao where we are actually pushing for wider distribution and marketing of our brands,” he added.
For the beer business, SMFB Director Carlos Antonio M. Berba said the company is also pushing to grow demand and volume by “focusing on consumption programs and capturing untapped and underserved market opportunities.”
“These include reinforcing leadership by strengthening the distinctiveness of our brands and leveraging on our portfolio with the introduction of new products and package formats in both premium and mainstream segments,” he said.
“We will build a stronger consumer base by implementing exciting consumption generating programs and intensifying availability and visibility in the various trade channels with channel-specific initiatives. Likewise, we will also strengthen our low alcohol brands in line with our sustainability thrust. We are confident these programs will provide the growth and returns for the company,” he added.
Meanwhile, SMFB Director and Chief Operating Officer for Food Francisco S. Alejo III said the company’s mega poultry farm in Hagonoy, Davao del Sur will help support the increasing nationwide demand for chicken.
The Hagonoy farm, inaugurated in October last year, can produce up to 80 million birds per year, equivalent to 200 million kilograms, live weight, the company said.
“It is only one of several mega farms that we are building around the country. It employs the latest technology in poultry farming as well as in animal nutrition. Because of these, the facility will be able to produce healthy chicken with premium quality that is affordable,” Mr. Alejo said.
“The mega farms will ensure the availability of chicken at all times. As we roll out the mega farms around the country, this will create an impact and bolster the food security of the country,” he added.
For the first quarter, SMFB net income rose by 1% to P10 billion while consolidated revenue grew by 2% to P95.4 billion led by increased sales in its food and spirits divisions.
SMFB stocks fell by 0.54% or 25 centavos to P45.75 each on Wednesday. — Revin Mikhael D. Ochave
