PHILIPPINES: San Miguel net profit down 34% in first quarter
The Philippines conglomerate, San Miguel Corp., posted an unexpected 34% decline in net profit for the first quarter to Peso1.11 billion (US$21.8m) against Peso1.67 billion pesos in the corresponding period last year. The company reported that the 35% rise in first-quarter turnover from Peso22.39 billion to Peso30.17 billion had failed to compensate for the "short-term dilutive impact" of recent acquisitions. But the company also said that consolidated net income, without the acquisitions, was 13% up on last year.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 14 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Comment - Heineken's 'No' Cuts SABMiller Options
- Irish whiskey eyes a slice of Scotch's global pie
- SABMiller spurned by Heineken: The start of the en
- Guinness: A Great Day for St James's Gate
- Wines of the Beautiful South Ups its Game
- Patron Spirits' Patron Citrónge Lime
- Wm Grant CMO to head Orangina Scweppes Int'l
- Heineken rejects SABMiller purchase proposal
- Scottish leader speaks out over Scotch whisky
- SABMiller, Heineken silent on takeover offer talk