E-Malt.com News article: 3191

Philippines: San Miguel Corporation (SMC) announced on September 2, 2004 it recorded a 21-percent increase in sales revenues from its Philippine beer operations as of end-July. Sustaining gains in the first half of the year, San Miguel Corporation recorded a 21-percent increase in sales revenues from its Philippine beer operations as of end-July.

San Miguel's Philippine beer operations reported P2.47 billion in sales revenues in July, bringing its January-July total to P20.8 billion, up 21 percent from the figure posted in the same period last year. Operating income for the month rose 24 percent to P335 million, giving the Philippine beer operations a seven-month total of P4.33 billion. Sales volume as of July, meanwhile, rose 17 percent.

As of end-July, San Miguel Beer's trade inventory was maintained at about two weeks equivalent sales, one of the lowest recorded levels in the last three years. The company has maintained its focus on retail sales, kept effective relations with its dealers and improved product availability, leading to this year's favorable numbers. San Miguel also continues to gain from an improved distribution system, right product portfolio and entry of new drinkers into the market.

San Miguel Corporation is the largest publicly-listed food, beverage, and packaging company in the Philippines. Founded in 1890 as a brewery, the company has over 100 facilities in the Philippines, Southeast Asia, China, and Australia.

San Miguel's flagship product, San Miguel Beer, holds over 90% share of the Philippine beer market. It is among the world's largest selling beers and is one of the top three brands in Asia. The Company has five breweries in the Philippines, one brewery each in Indonesia and Vietnam, and four breweries in China, including Hong Kong. Ginebra San Miguel, Inc., a San Miguel subsidiary, is the leader in the Philippine distilled spirits market. San Miguel's food operations involve the production and marketing of chicken, pork, and beef; ready-to-cook and processed meats, as well as butter, cheese, margarine, coconut oil, and animal feeds, among others.

Through the partnerships it has forged with major international companies, San Miguel has gained access to the latest technologies and expertise, thereby enhancing its status as a world-class company. It has a long-standing partnership with The Coca-Cola Company. Other successful joint ventures are with the Hormel Foods Corporation, Yamamura Glass, and Fuso Machine, and Mold Manufacturing of Japan, and Ball Corporation of the United States. Social responsibility is integral to San Miguel's corporate character. Thus, the company supports initiatives aimed at improving the quality of life of Filipinos, with focus on entrepreneurship, education, and the environment.


06 September, 2004