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4-Traders Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  San Miguel Corp    SMC   PHY751061151

SAN MIGUEL CORP (SMC)
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San Miguel : Pure Foods nets 26% more in 9 months

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11/10/2017 | 08:36pm CEST

MANILA, PhilippinesSan Miguel Pure Foods Co. Inc.

(SMPFC), the food subsidiary of diversified conglomerate San Miguel Corp., sustained its growth momentum in the first nine months.

Net income rose 26 percent to P4.7 billion on the back of a five percent rise in revenues to P84.5 billion. SMPFC said this was driven by the strong performance of its branded value added and agro-industrial businesses.

"Combined revenues of the feeds, poultry and meats businesses grew five percent to P59 billion due to better sales mix and favorable selling prices. Its chicken business was partly affected by the avian flu outbreak detected last August that dampened demand for chicken during the period but a campaign assuring the market that all its farms are avian flu-free and chicken products safe to eat, helped cushion the impact of the outbreak on its sales," SMPFC said.

Challenging market conditions continued to weigh on the milling business. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 As a result, revenues declined three percent to P7.1 billion.

The business, however, remained profitable despite the margin squeeze. Revenue from the branded value-added business, meanwhile, remained strong, accelerating five percent to P19.7 billion, driven mainly by the strong performance of processed meats and spreads.

Continued marketing activities and new product launches also boosted the overall performance.

© Pakistan Press International, source Asianet-Pakistan

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Financials ( PHP)
Sales 2018 918 B
EBIT 2018 132 B
Net income 2018 23 855 M
Debt 2018 408 B
Yield 2018 3,46%
P/E ratio 2018 13,66
P/E ratio 2019 12,19
EV / Sales 2018 0,80x
EV / Sales 2019 0,83x
Capitalization 326 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 170  PHP
Spread / Average Target 24%
EPS Revisions
Managers
NameTitle
Eduardo M. Cojuangco Chairman & Chief Executive Officer
Ramon S. Ang Vice Chairman, President & Chief Operating Officer
Ferdinand K. Constantino Chief Financial Officer & Treasurer
Iñigo U. Zobel Director
Leo S. Alvez Director
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