Philippine packaging and beverage giant San Miguel Corporation (SMC) has reported a 41 per cent increase in operating income for its packaging operations to P1.4bn (US$29.87). The company attributes the increase to a strong demand for glass, plastic, metal and PET businesses for the first nine months of the year.

Philippine packaging and beverage giant San Miguel Corporation (SMC) has reported a 41 per cent increase in operating income for its packaging operations to P1.4bn (US$29.873). The company attributes the increase to a strong demand for glass, plastic, metal and PET businesses for the first nine months of the year.

Filipino based multinational San Miguel Corporation has recently announced a consolidated net income of P20.9bn, nearly 200 per cent higher than the same period last year. The company’s packaging business, Yamamura Packaging also reported a substantial jump in profits from last year.

Philippines-based food and beverage packaging company San Miguel Corporation (SMC) has received stockholder’s approval to implement a corporate restructuring program that would allow the company’s major subsidiaries to pursue public listing.

Philippines-based food and beverage packaging company San Miguel Corporation reported a 164 per cent rise in June year to date operating income. The rise was due to cost and working capital management efforts, which produced solid operating results and efficiency improvements despite economic challenges.