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PHILIPPINES: San Miguel boosted by beer in Q2

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The Philippine food and drinks giant San Miguel has seen its second quarter profits leap 32%, as beer sales around the national elections in May boosted sales.

In a statement, San Miguel said: "The company confirms that it posted a 32% rise in second-quarter net income."

The company did not give the exact profit figure. However, a Reuters report quoted company sources saying profits reached PHP4.0 bln (US$71.7m) in the first half. This would mean the company earned PHP2.26 bln in the second quarter against PHP1.71 bln a year earlier, Reuters said.


Sectors: Beer & cider

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