News

PHILIPPINES: San Miguel hopes for 2003 growth

Most popular

just-drinks meets Beam Suntory CEO Albert Baladi

just-drinks speaks to Beam Suntory CEO - Part II

What does the future hold for Champagne? - Focus

Lift our heads out of our drinks - Trends

The just-drinks analyst returns

MORE

San Miguel Corp has high hopes for its end of year figures. AFX Asia today reports that the food and beverage conglomerate expects its 2003 net profit to outstrip last year by 10%.

According to the news agency, company president and chief operating officer Ramon Ang predicts net profit reaching 6.63 billion pesos (US$120m) this year, with revenue growing by 25% next year. The company's Q3 figures to September saw net profit rise by 15% year-on-year to 1.79 billion pesos on the back of sales growth of 9% to 35.9 billion pesos.

 San Miguel, the Philippines' largest food and beverage conglomerate, plans to invest around US$100m in Thailand, Vietnam, China, Indonesia, Australia, Malaysia and Taiwan in the hope it will boost its annual revenue to US$300m.

Ang also told AFX Asia that it is in talks with the Indofood group in Indonesia. Ang said: "If ever we do a deal with anybody in the region it will purely be (for) an acquisition, We don't want to get into distribution."


Related Content

Soft drinks step-back continues for Asahi Group Holdings, with Indonesia JV divestments

Soft drinks step-back continues for Asahi Group Holdings, with Indonesia JV divestments...

This week in beer & cider, featuring the craft battle's move east, how C&C Group is going to save Magners and is Peroni poised for China?

This week in beer & cider, featuring the craft battle's move east, how C&C Group is going to save Ma...

Comment - Spirits - Gin's Long Quest for Kwan

Comment - Spirits - Gin's Long Quest for Kwan...

Comment - San Miguel Corp preparing to ditch beer?

Comment - San Miguel Corp preparing to ditch beer?...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?