PHILIPPINES: San Miguel acquisitions hit 2001 profits
The Philippine food and drink company San Miguel Corp reported a slight fall in 2001 net profit on the back of three major acquisitions last year. San Miguel's net profit declined to 6.50 billion pesos (US$126.7m) in 2001 from PHP6.84 billion in 2000, on revenues of PHP121.6 billion, up 48%.
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