San Miguel 2019 income at P48.57B

In this Oct. 17, 2019 photo, a pedestrian passes by a San Miguel Corp. sign at the conglomerate's headquarters in Ortigas Center, Mandaluyong City. (Photo by John Orven Verdote)

SAN Miguel Corp. (SMC) saw its net income slightly decline to P48.57 billion last year due to the weaker performance of its fuel and food units.