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San Miguel Corporation’s cement-related sales rise in 2023

Philippines: San Miguel Corporation reported sales of US$19.8bn during the first nine months of 2023, down by 5% from those recorded in the corresponding period in 2022. Nonetheless, the group’s net income more than doubled, to US$560m from US$232m. Its building materials subsidiaries, Eagle Cement, Northern Cement Corporation and Southern Concrete Industries, contributed US$519m (2.6%) of sales, more than triple their nine-month 2022 contribution.

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