The Philippine food and beverage giant San Miguel Corp has seen its net profit leap 32% in the five months since January, compared to the same period last year, to 3.29 billion pesos (US$59m).

The company cited an increase in the sale of beer and soft drinks for the jump.
Domestic beer sales grew 20% in the period, while international beer sales rose 19%.

"Significant bottom line improvement coming from the food group also boosted San Miguel's strong performance from January to May," the company said.