Market research
Net profit rose by 1.2% to HK$88.73m, but turnover was down by 4% at HK$1.37 billion. In spite of this, San Miguel recommended a final dividend of four HK cents per share, giving a total dividend for the year of 16 HK cents, 14.3% up on last year.
Hong Kong sales including some exports were up by 8.6% but volumes in South China fell by 11%, the company said. The company attributed the decline principally to a poor performance from Guang's Pineapple beer and Dragon Beer. In spite of demand in China growing by between 5% and 8% per annum, the market was becoming increasingly competitive, the company said.