San Miguel Corp has high hopes for its end of year figures. AFX Asia today reports that the food and beverage conglomerate expects its 2003 net profit to outstrip last year by 10%.


According to the news agency, company president and chief operating officer Ramon Ang predicts net profit reaching 6.63 billion pesos (US$120m) this year, with revenue growing by 25% next year. The company’s Q3 figures to September saw net profit rise by 15% year-on-year to 1.79 billion pesos on the back of sales growth of 9% to 35.9 billion pesos.


 San Miguel, the Philippines’ largest food and beverage conglomerate, plans to invest around US$100m in Thailand, Vietnam, China, Indonesia, Australia, Malaysia and Taiwan in the hope it will boost its annual revenue to US$300m.


Ang also told AFX Asia that it is in talks with the Indofood group in Indonesia. Ang said: “If ever we do a deal with anybody in the region it will purely be (for) an acquisition, We don’t want to get into distribution.”

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Drinks Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Drinks Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now