San Miguel Corp. today announced a rise in sales and profits for the third quarter.
As figures across the board for the Philippine food-and-beverage conglomerate showed healthy growth, international beer sales jumped by 11% to US$68m. The rise comes off the back of a 10% contraction in sales during the second quarter, when SARS badly affected Asian economic activity. Operating income for the beer division was up 9% on the year, to US$4.9m.
The company’s Coca-Cola Beverage Group also enjoyed a prosperous third quarter, posting an increase in sales of 16% to 9.6 billion pesos (US$174m), as the division continued to absorb the operations of newly-acquired soft-drink manufacturer Cosmos Bottling Corp.
Operating income for the group as a whole leapt by 50% year-on-year, to 778m pesos.
