The spirits division of the Philippine drinks giant San Miguel, Ginebra San Miguel, announced today that its net income in the second-quarter is up 13%, on the back of increased sales thanks to marketing efforts.
The company, previously known as La Tondena, posted a net profit of 403m pesos for the period. For the first half, the net profit of 925 million pesos was 14% higher than a year earlier.
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Consolidated sales volume in the first half grew 8% from a year earlier, with revenues up 9% to 5.97 billion pesos.
Analysts now believe the company is well set to reach market estimates of at least 1.8 billion pesos ($32.8 million) in net profit this year.
