E-Malt.com News article: 1307

South East Asia's largest food and beverage firm, based in Philippines, San Miguel Corporation, announced on July 14 that it expects its first half net income to grow about 30 % versus the same period a year ago, according to Reuters. San Miguel rules the Philippine beer market with a 90 % share. The group is 15 % owned by Japan's Kirin Brewery Co Ltd. "Profit would be a little less than 30 % increase," Eduardo Cojuangco, company chairman and chief executive officer, told reporters when asked about the company's likely net income in the first half. San Miguel posted a net income of 3.01 billion pesos ($56.4 million) in the first six months of 2002. Cojuangco added that San Miguel was likely to record a 30 % year-on-year jump in revenues and operating income in January to June.
US$1 = 53.4 pesos


14 July, 2003