MANILA, June 10 (PNA) — San Miguel Corporation (SMC) is expecting its new businesses to grow by 20 percent this year, SMC president Ramon S. Ang told reporters at the sidelines of the company’s Annual Stockholders’ Meeting Tuesday.
Ang said the double-digit growth for new businesses will be supported by its Petron refinery and Southern Tagalog Arterial Road (STAR) tollway as the latter is expected to consolidate this year.
In 2013, SMC’s new businesses grew by 7.0 percent.
It shared 72 percent of the total revenue last year which hit Php 747.7 billion.
Ang stressed that since SMC expects 20 percent growth in new businesses, its share to revenue is also seen to expand to 76 percent this year.
On the other hand, the SMC’s president also eyes 5.0 to 10 percent growth in its traditional businesses.
From a company offering food, beverage, and packaging products, SMC has expanded to oil, power, transportation and infrastructure businesses.
Among the projects in the pipeline of SMC include Tarlac-Pangasinan-La Union Expressway, NAIA Expressway, Skyway system, Boracay Airport, Petron Refinery Master Plan Phase 2, Greenfield Power Plants, and Golden Bay Grain Terminal. (PNA)