News

PHILIPPINES: Cosmos Bottling income up 450%

Most popular

Is craft spirits approaching a reset moment?

'Healthy alcohol - the trend to watch in 2019?

The beer category in 2018 - Review

The beer category in 2019 - just-drinks predicts

MORE
The San Miguel and Coca-Cola Company jointly-owned Cosmos Bottling Corporation, saw its net income in the first half of the year jumped about 450% to 778 million pesos ($15.3 million). This was in part due to a one off gain from property sales resulting in 313 pesos.

However, revenues were also up in the first half by 16.3% compared to the same period last year, to 4.5 billion pesos. Operating income increased nearly 200% to 511m pesos.

"Under the new owners, we are committed to continue the growth momentum. We will continue building brands," Guballa said.

Sales volumes, however, were flat, the company said at 69.5m unit cases. This was attributed to the exclusion of two brands, Sunkist and RC Cola, in the acquisition earlier this year of the firm by Coca-Cola Bottlers Philippines Inc, an unlisted joint venture of San Miguel and The Coca Cola Co for 14 billion pesos.

The two brands accounted for 10 percent of Cosmos' sales in 2001.

Cosmos said its growth momentum is intact despite expected slower growth in the soft drink industry this year.


Related Content

Focus - FEMSA props up beer sales with price rises

Focus - FEMSA props up beer sales with price rises...

PHILIPPINES: Kirin Holdings buys into San Miguel Brewery

PHILIPPINES: Kirin Holdings buys into San Miguel Brewery...

MEXICO: Femsa FY net income slides

MEXICO: Femsa FY net income slides...

MEXICO: FEMSA reports fall in Q3 net income

MEXICO: FEMSA reports fall in Q3 net income...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?