Analysts are also forecasting that the group will meet its full-year net profit forecast of PHP6.6 billion to PHP7 billion. Net income for the third quarter could be as high as PHP1.8 billion, against PHP1.03 billion in the corresponding quarter last year, a period when profits were pegged back by costs related to acquisitions.
PHILIPPINES: Analysts forecasting surge in profit at SMC
The Philippine food and beverage group, San Miguel Corp. (SMC), is set to post as much as a 75% increase in profits for the third quarter, against last year's depressed figures, according to analysts. The third-quarter recovery is being attributed to higher beer sales and prices.