PHILIPPPINES: SMC forecasts 30% H1 profit rise
SMC's chairman and CEO, Eduardo Cojuangco, said the company's net profit for the first half was likely to rise by just under 30% from the PHP3.01 billion (US$56.4m) in the first six months of 2002.
Cojuangco added that the company was also expecting to register a 30% rise in both revenues and operating income in the January-to-June period.
San Miguel, South East Asia's largest food and drinks group, controls around 90% of the beer market in the Philippines. The company is 15%-owned by the Japanese brewer, Kirin Brewery Co.
Sectors: Beer & cider
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