-2 C
London
Saturday, December 10, 2022
Banner
Banner
Filtraglass

San Miguel: revenue rises across all main businesses

Philippine conglomerate San Miguel Corp. said 3Q 2003 net profit rose 15% on revenue growth in all the main businesses. Net profit rose to PHP 1.79 billion (USD 32.4 million) from the year-earlier fig…

Philippine conglomerate San Miguel Corp. said 3Q 2003 net profit rose 15% on revenue growth in all the main businesses. Net profit rose to PHP 1.79 billion (USD 32.4 million) from the year-earlier figure of PHP 1.56 billion. Revenue rose 9.1% to PHP 35.9 billion. The packaging group“s sales rose 14% to PHP 4.3 billion as glass sales volume expanded 9%, while the plastics sales volume improved by 64%. International beer sales by volume rose 11% after a 10% contraction during the 2Q when the outbreak of SARS in Asia hit business across the continent. Revenue at the international beer division rose 11% to USD 68 million, increasing operating income for the period to USD 4.9 million, up 9% on the year. The company“s Coca-Cola Beverage Group posted a 16% increase in sales to PHP 9.6 billion, as the unit continued to absorb the operations of newly acquired soft-drink manufacturer Cosmos Bottling Corp. These factors helped boost the group“s 3Q operating income 50% to PHP 778 million. “With improvements in selling prices … operating income in the 3Q improved significantly to PHP 481 million from PHP 258 million in the 1H. Operating income on a year-to-date basis amounted to PHP 739 million” San Miguel said.

Related news
- Advertisement -spot_img