San Miguel's 9-Month Profit Plunges 40% to P47.3B Amid Forex Losses
Philippine conglomerate San Miguel Corp. (SMC) reported a 40% year-on-year drop in net income to P47.3 billion for the first nine months of 2026. The decline was attributed to unrealized foreign exchange losses and a high base from a one-time gain in the prior year's Chromite transaction. This profit fluctuation could impact future strategic investments.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- ABS-CBN's 9-month losses widen to P2.95 billion
ABS-CBN Corp. saw its net losses widen by nearly a third in the first nine months of 2026, reaching P2.95 billion, as weak advertising demand and a declining cable subscriber base were exacerbated by challenging market conditions.
- PSEi hits 2026 low on peso weakness, dim growth outlook
Philippine stocks dropped for a third straight session, closing at their lowest level this year as a weaker peso and a downgrade to the country's growth outlook weighed on sentiment. The PSEi shed 1.18 percent to 5,593.49.
- DITO's Net Loss Swells 77% to P17.1 Billion on Weaker Peso
DITO CME Holdings Corp. reported a 77% surge in net loss to P17.1 billion for the first nine months of 2026, primarily driven by foreign exchange losses due to a weaker peso and higher interest expenses. This marks a significant financial challenge for the telecommunications firm.
- Philippines Eyes $200 Million From Retail Dollar Bond Sale
The Philippine government plans to raise at least $200 million by offering three-year retail dollar bonds next week. This marks the third issuance of retail dollar bonds, aiming to support government spending and provide investment opportunities.