San Miguel Corp. has posted its figures for the first quarter. The food and beverage group announced today that net profit had leapt by almost 30% thanks to strong beer sales in the Philippines prior to elections in the country.

Net income for the period from January to March hit PHP1.74 billion (US$31.3m), compared to PHP1.34 billion for the same period last year.

Elections are scheduled for 10 May in the Philippines.