Philippines: San Miguel Corp. Sustains Growth Momentum in 2006
San Miguel Corporation (SMC) reported another strong performance in 2006 amid slower growth in incomes. Consolidated net sales revenue reached P250 billion, which was 10% higher than 2005.
Dampened consumer demand continued up to the fourth quarter of 2006, partly due to the strong typhoons that hit the Philippines. Despite weaker consumer spending, there was however marked improvement in food group sales and significant volume recovery in the liquor business.
