This is AI generated summarization, which may have errors. For context, always refer to the full article.San Miguel Corporation's successful beer business became the foundation for ventures into a diverse line of food and beverage brands such as Magnolia, Ginebra, Purefoods, Star, and Dari Creme
SMC’s successful beer business became the foundation for ventures into a diverse line of food products, starting with Magnolia Ice Cream in 1925 or 99 years ago. In 2023, SMFB earned a “record profit” of P38 billion, its highest since the company consolidated its beer, food, and spirits business units six years ago. – which produces processed meats refrigerated and in cans.
Despite the continuing problem with the African swine fever affecting supply as well as competition from imported frozen chicken, SMFB said its poultry business still managed a net income of P6.6 billion in 2023. It said this exceeded pre-pandemic figures.