San Miguel, the leading Philippine beverage producer, announced today that net income for the first four months climbed 21% year-on-year, driven by stronger domestic beer operations. The company said the results put it on track for an improved second quarter.

Excluding contributions from its recent soft drink acquisitions, San Miguel's net income grew 21% year-on-year to 2.5 billion pesos (US$50m).

San Miguel said in a statement if it accounted for the contribution of Coca Cola Bottlers Philippines and Cosmos Bottling Corporation , two soft drink firms it bought last year, its consolidated net income in the four-month period would reach 1.7 billion pesos.
"With this positive performance continuing in May, the company's second quarter is expected to end better than the first quarter," the company said.