San Miguel announces steady 9-month growth

The San Miguel Corporation (SMC) is reporting a net-income surge of $3.5 million, thanks to an increase in sales of 14 percent.

Steady September year-to-date results included strong income from SMC’s Beer Division—its domestic operations was 13 percent above last year at $127 million, with the business also benefiting from cost-efficiency programs. Its nine-month 2006 revenue hit $565 million, matching last year’s level following sustained efforts to increase brand presence and beer consumption.

San Miguel Food Group’s consolidated sales revenue in the nine months to September grew five percent to $ 896 million, with sustained volume growth and better prices across most of its businesses.