Skip to main content

San Miguel 2008 net profit up 124%

"MANILA (AFP) — San Miguel Corp., one of the Philippines' largest companies, said Thursday that net profits rose 124 percent from a year earlier to 19.3 billion pesos (400.5 million dollars) in 2008, mostly through asset sales amid flat demand.

The group, known for its beer but which is rapidly diversifying into heavy industries, said net profit excluding "non-recurring gains on sale of investments and properties" rose 4.0 percent to 7.22 billion pesos.

Sales grew 14 percent to 168 billion pesos.

San Miguel president Ramon Ang said "a combination of operating leverage and tighter reining in on costs" allowed the company to grow its profits amidst difficult market conditions." (2009, Google.com)

Comments

Popular posts from this blog

Contact Us

[starttext] Here's how to get in touch with us: The most effective way is to send us email. It's fast and free. Postal Address: 12587 Fair Lakes Circle #248 Fairfax, VA 22030 USA Email: Support @ Filipino.TV (no spaces) [endtext]

Mark 1:19

And going on a little further, he saw James the'son of Zebedee, and John his brother, who also were in the boat mending the nets. Mark 1:19 from American Standard Version. https://Acknowledgement.com