PHILIPPINES: San Miguel enjoying strong 2006
San Miguel Corp has reported a strong set of figures for the year so far.
The Philippines food and drink giant said today (16 November) that net income in the first nine months of 2006 leapt by 18% year-on-year to PHP6.17bn (US$123.1m). Consolidated net sales performed equally well, posting a 14% rise to PHP183bn in the period, with operating profit climbing by 25% to PHP14.7bn.
San Miguel's beer units performed well, with operating profit from its domestic brewer coming in 13% up on the same period in 2005 at PHP6.54bn, despite flat sales of PHP29.1bn. International beer operations were up by 5% to US$217.9m, driven by stronger volumes from China.
The company's spirits subsidiary, Ginebra San Miguel saw revenue for the period rise by 2% year-on-year to PHP9.28bn, but operating income dropped by 22% to PHP798m.
The group's Coca-Cola Beverage Group saw weak third quarter volumes and higher costs hit operating income, which plunged by 36% to PHP420m.
The Australian dairy and juice units, National Foods and Berri, turned in total sales of A$1.34bn and operating profit of A$103m, both up 6% from a year earlier.
Japanese company Kirin Brewery holds a 20% stake in San Miguel.
Japan has led the way in functional drinks and as market maturity and demographics have slowed sales, manufacturers have continued to innovate imaginatively. Jeanette Bengtsson, soft drinks manager at...
San Miguel has authorised the listing of its flagship domestic beer and packaging businesses in the Philippine stock market....
Kirin Brewery Co has posted a healthy lift in Q1 sales....
San Miguel Corp. has posted rising sales in 2006, despite sliding volumes at its spirits arm....
A survey of the top brewers in Japan has shown total beer and quasi-beer shipments were flat in the first three months of this year....
A major shareholder in Pernod Ricard has upped its stake in the French drinks giant....
The latest review of new drinks products has highlighted a juice-heavy energy drink, a controversially-named coffee and some new packaging innovations....
Chinese beer maker Kingway Brewery said today (14 February) that its CNY400m (US$51.5m) plant in the city of Foshan will be up and running early next year....
- just The Preview - Diageo's FY preliminaries
- Analysis - SABMiller's Australian issues continue
- Comment - Beer - What’s in a (Brand) Name?
- just The Preview - Anheuser-Busch InBev's H1 & Q2
- Molson Coors CEO exit - Mega-Merger on hold?
- ASA bans Jägermeister TV ad
- Diageo silent over Shuijingfang writedown report
- Diageo boosts exec committee
- Diageo bags Facebook unit boss as director
- Britvic promotes GB marketing head to global post