PHILIPPINES: CCBPI H1 figures on the up
Coca-Cola Bottlers Philippines Inc. (CCBPI) has posted a rise in H1 earnings. The San Miguel unit saw net profit in the six months to June increase by 28% year-on-year to PHP942 m (US$16.86 m) from PHP736 m.
Net sales for the period reached PHP14.2 bln, although no comparative figure was disclosed.
In a statement, San Miguel credited the rises on improved sales and lower costs.
CCBPI's first half operating income reached PHP1.12 bln, a slight increase year-on-year, mainly thanks to fixed cost savings, favourable sales mix and pricing gains, San Miguel said. The company's fixed costs fell by more than PHP400 m during the period, though no comparative figures were released.
San Miguel reacquired a 65% stake in CCBPI, the Philippine operations of Coca-Cola Co., from Coca Cola Amatil of Australia in 2001.
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