PHILIPPINES: Drop in net income forecast for San Miguel
Analysts have predicted that the San Miguel Corporation will post lower net income for 2001 as a result of the costs involved in expanding its activities in soft drinks and food.
The cost of a series of acquisitions, including the local operations of Coca-Cola and Pop-Cola, is set to impact on the year-end figures, due to be published on 20 February.
However, analysts believe that contributions from the acquisitions will boost consolidated earnings in 2002. The company, which represents around 2.5% of the Philippines gross domestic product, recorded recurring net profit of Peso7.5 billion ($146.2 million) for 2000.
A figure of around Peso7.2 billion has been widely forecast for 2001 though some predictions come in as low as Peso6.2 billion.
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