SAN MIGUEL Corp. (SMC) is aiming to triple its net income by 2020, as the diversified conglomerate completes its major tollway projects in the next three years, and finishes making payments for three power plants.
SMC President and Chief Operating Officer Ramon S. Ang said the bulk of its income would come from tollways in the next few years.
“Our 2016 income was basically coming from our beer, food, packaging, and our Petron operations... So I think if we are lucky, by year 2020 and up, our net income should triple by then,” Mr. Ang said during the firm’s annual stockholders’ meeting in Pasig City.
In 2016, the conglomerate’s earnings soared to P52 billion, 80% higher than the P28.99 billion it generated in the previous year.
SMC said it is on track to complete projects such as the highway connecting the South Luzon Expressway to Lucena, Quezon; the Tarlac-Pangasinan-La Union Expressway (TPLEx), and the North Luzon Expressway-South Luzon Expressway (NLEx-SLEx) connector road or Skyway Stage 3, as well as the Metro Rail Transit Line 7, by 2019.
SMC President and Chief Operating Officer Ramon S. Ang said the bulk of its income would come from tollways in the next few years.
“Our 2016 income was basically coming from our beer, food, packaging, and our Petron operations... So I think if we are lucky, by year 2020 and up, our net income should triple by then,” Mr. Ang said during the firm’s annual stockholders’ meeting in Pasig City.
In 2016, the conglomerate’s earnings soared to P52 billion, 80% higher than the P28.99 billion it generated in the previous year.
SMC said it is on track to complete projects such as the highway connecting the South Luzon Expressway to Lucena, Quezon; the Tarlac-Pangasinan-La Union Expressway (TPLEx), and the North Luzon Expressway-South Luzon Expressway (NLEx-SLEx) connector road or Skyway Stage 3, as well as the Metro Rail Transit Line 7, by 2019.
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