PHILIPPINES: San Miguel Brewery YTD profits edge up
- Nine-month operating profits up by 5% to PHP15.4bn (US$374m)
- Net sales rise by 3% to PHP53.8bn
- YTD volumes flat at 164m cases
- Export volumes flat at 30.7m cases
The conglomerate's brewery operations saw a solid performance
San Miguel Brewery has reported a slight rise in nine-month profits and sales, but its domestic and export volumes remain flat.
The Philippines-based brewer, part of the San Miguel conglomerate, said operating profits in the nine months to the end of September rose by 5% to PHP15.4bn (US$374m), a slight slowing on H1. Sales in the period were up by 3% year-on-year to PHP53.8bn.
Overall volumes were flat at 164m cases. Domestic (133.2m) and export volumes (30.7) were also static. In H1, volumes dipped by 3% to 111.6m cases.
The company said "management of fixed costs" in its domestic beer operations and an improved performance in its international business boosted its results.
The conglomerate's liquor and soft drinks maker, Ginebra San Miguel, reported a 26% slowing in net losses to PHP393m. Net sales fell by 5%, while volumes dropped by 7% to 17.8m cases.
San Miguel Brewery makes up about 10% of the corporation's total sales and Ginebra San Miguel about 2%.
The conglomerate overall reported a 61% jump in nine-month net profits to PHP19.2bn, as sales rose by 29% to PHP509.2bn.
For the company's full statement, click here.
- Will Tequila Learn from Scotch Whisky's Mistakes?
- Comment - Beer - Does 'Craft' Work?
- Solving the diet drinks dilemma in the US
- Comment - How to Target Cognac's Mok Generation?
- SABMiller, Meantime Brewing say goodbye to 'craft'
- Whyte & Mackay takes on Flor de Caña in UK
- Diageo opens Johnnie Walker House in Singapore
- Emperador overhauls Whyte & Mackay labels
- SPI Group US, Canada sales chief departs
- Soaring Prosecco sales good for Champagne
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Africa: The Final Frontier for Beer