PHILIPPINES: San Mig beer record drives profits
All-time high beer sales volumes helped San Miguel Corp report a 9.6% rise in full year net profit to PHP8.08bn today.
Beer sales for the company reached PHP36.9bn, up 21%, on the back of record volumes of 174m cases. The company has been conducting an aggressive marketing and promotion campaign for its beer brands.
Overall, sales were up 18% for the Philippine food and drink giant to PHP174.7bn. Operating income expanded 22% year-on-year to PHP17.5bn.
International beer sales were up 12% in value to US$263m on a 13% increase in volume.
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