Manila, March 3 - San Miguel Corp., the Philippines' largest food and beverage conglomerate by sales, said Monday its brewery unit's 2007 net profit rose 9.4% on year to PHP8.02 billion ($196.4 million) on a robust growth in sales volume.
San Miguel spun off San Miguel Brewery Inc. last year in preparation for an initial public offering this year.
San Miguel said the proforma financial statement of the brewery operations also showed an 8.8% on year rise in net sales to PHP44.14 billion, reflecting a volume growth of around 8% on year.
Alcoholic beverages account for nearly a quarter of San Miguel's group revenue.