PHILIPPINES: Sales and profit up at San Miguel Brewery

By just-drinks.com editorial team | 4 March 2008

San Miguel Brewery, the beer arm of Philippines-based food and drinks group, San Miguel Corp., has posted a 9.4% increase in net profit to PHP8bn (US$196.5m) for 2007.

Sales at the brewer rose by 8.8% to PHP44.1bn, on the back of volume growth of nearly 8%.

The San Miguel group is planning to undertake initial public offerings for both its brewing operations and its packaging arm this year, with the brewing flotation expected to raise around PHP25bn.

San Miguel, which is due to publish its consolidated full-year results next month, is planning to use the cash generated to fund moves into new business areas such as energy and mining.