MANILA- The brewery unit of San Miguel Corp. reported a 20-percent increase in profit in the first quarter of 2015 as sales volume surged seven percent despite the imposition of higher excise taxes.

San Miguel Brewery Inc. said its net income reached PhP3.3 billion in January to March compared to the year-ago level of PhP2.7 billion.

Its consolidated revenues also grew eight percent to PhP18.9 billion from PhP17.6 billion.

Philippine operations' net income rose by 29 percent, ending the first quarter with PhP3.2 billion.

Revenues reached PhP16.2 billion against the PhP13.8 billion last year on the back of higher volumes.

San Miguel Brewery said it implemented new campaigns and consumer and trade programs to strengthen brand equity and increase consumption in the Philippines.*PNA

back to top