SMFB food segment posts 13% growth in Q1 revenues

San Miguel Food and Beverage Inc (SMFB) reported consolidated revenues of USD 2.1 billion for its food segment, up 13% year-on-year on robust demand. The segment includes the poultry and livestock farming and processing, feed production, and meat processing units. The company said despite rising raw material costs and supply chain disruptions due to the Russia-Ukraine war, its overall Q1 consolidated revenues grew 9% to USD 4.3 billion. It attributed this to a combination of volume growth and better pricing across its categories.