San Miguel Corp. has posted a rise in net profit for the first nine months of the year. The Philippine food and drink conglomerate saw improved gains across most of its businesses, led by its flagship beer products, lift net profit in the nine months to 30 September to PHP5.57 bln (US$98.98m), a rise of 15% year-on-year.

Revenue in the period also rose, by 13% to PHP122.4 bln. Sales volumes for the first nine months were up by 7% year-on-year, while operating income for the period climbed by 22% to PHP11.6 bln. Revenue from domestic beer operations rose 20%, while overseas beer sales grew 14%.

Third quarter-specific data was not released, but in the first half of 2004, San Miguel posted net profit of PHP4 bln. Based on that figure and the nine month results, it appears that San Miguel has recorded net profit of PHP1.57 bln for the three months to 30 September, a drop of 12% from the PHP1.79 bln the company reported in the year-ago quarter.