Manila's San Miguel confirms 9-mth net at $1.2 bln

Published: 04 Nov 2009 23:45:15 PST

MANILA, Nov 5 - Philippine conglomerate San Miguel Corp PS> on Thursday reported net income of 57 billion pesos ($1.2 billion) in January to September, more than double its profit of 20.9 billion pesos a year earlier, analysts said.

The number confirmed an earlier Reuters report on the company's results.

The company also said its flagship San Miguel Brewery posted net income of 7.2 billion pesos in the first nine months of the year, up 2 percent from the same period of 2008, said analysts who attended a company results briefing.

San Miguel later said in a statement that group revenue was 126.5 billion pesos in the January to September period, up 4 percent from a year earlier. ($1=47.6 pesos)