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San Miguel Packaging: further gains in August sales

Following a 21% rise in volumes, August revenues for San Miguel Packaging Products (SMPP) rose 25% to 1.3 billion pesos.
This represented a further improvement for the Philippines-based business on t…

Following a 21% rise in volumes, August revenues for San Miguel Packaging Products (SMPP) rose 25% to 1.3 billion pesos. This represented a further improvement for the Philippines-based business on the 15% growth during the first six months of the year as the packaging unit of San Miguel Corporation continued to benefit from higher demand, minimal price increases and early hedging on raw materials. Operating income for August rose 64% to 174 million pesos from 106 million pesos in 1999. Between January and August, sales revenue rose 21% to 10 billion pesos while operating income increased 77 per cent to 1.4 billion pesos.

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