San Miguel's profit in Indonesia up 68%

San Miguel's profit in Indonesia up 68%

MANILA: San Miguel Corp., the largest Philippines food and beverage company, said operating profit in Indonesia rose 68 percent in the first seven months of this year as it sold more beer after improving distribution.

Operating income at PT Delta Djakarta Tbk rose to Rp 37.3 billion (US$3.77 million), driven by a 27 percent increase in beer sales by volume, Manila-based San Miguel said in a statement. Sales rose 34 percent to Rp 298 billion, it said.

San Miguel is trying to counter slowing earnings growth from liquor at home, where it bottles nine out of every 10 beer bottles sold. The Philippine government this year raised cigarette and liquor taxes to help it cut the budget deficit.

The Philippine brewer's Indonesian unit sells Anker Bir, Anker Stout, San Miguel Pale, Carlsberg, Kudah Putih, Sodaku and Sodaku Ice brands. -- Bloomberg