The Philippine's Ginebra San Miguel reported today that net profit for its first nine months reached 1.2 billion pesos, an increase of 8% on last year.

In the third quarter, net profit stood at PHP323m. No comparative figure was given.

Sales were up 6% in the nine months and revenues jumped 5%.

"Volumes are expected to improve further in the fourth quarter with the approach of the holiday season, and as GSMI's international business operations continue to generate significant volumes from new contracts," the company said.