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Philippines San Miguel reports drop in profit

Net income in 2010 was to 20.1 billion pesos ($467.44 million) in 2010, down from 57.8 billion pesos in 2009 when it realised an extraordinary gain from the sale of a substantial stake in its beer brewing subsidiary. San Miguel chairman and chief executive Eduardo Cojuangco said the outlook was bright for San Miguel, which over the past three years has aggressively diversified its business to include power and heavy industries.

written on 16.03.2011 um 05:21.


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