GINEBRA San Miguel Inc.
, the liquor arm of San Miguel Corp., saw its net income rise by 9 percent to P4.5 billion last year.Brand equity, relevant campaigns and a push to expand distribution coverage in new markets were said to have enabled the firm to remain the market leader in the hard liquor category.'GSMI is one of the few companies that continued to grow despite the challenges of the past years,' Ginebra San Miguel President and Chief Executive Officer Ramon Ang said.
Income from operations totaled P6 billion and earnings before interest, taxation, depreciation and amortization hit P6.7 billion, up by 13 percent and 7 percent, respectively, from 2021.Total volume growth of 7 percent across various product lines significantly boosted the company's bottom line.The company also said that its flagship Ginebra San Miguel brand delivered record sales volumes last year.
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