Australia: With the acquisition of Australia's National Foods almost in the bag, San Miguel Corp is taking its biggest step towards realising its ambition of becoming a major international food and drink company.

The contribution of overseas operations to total revenue will surge to about a third from only 13 per cent last year. Australia alone will account for more than a quarter of the Manila-based company's sales up from 4 per cent last year, according to analysts.

12 April, 2005