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PHILIPPINES: San Miguel Corporation Net Income Up 24% in First Quarter

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San Miguel Corporation (SMC), the Philippines' largest food and beverage company, today posted a consolidated net income of P1.54 billion ($37.8 million)(1) in the first quarter of this year, an increase of 24% over the P1.24 billion in 1999, amid relatively sluggish consumer demand. This reflects the effectiveness of the strategies and operational improvements earlier identified and implemented by SMC management.


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