San Miguel Brewery, Inc.
San Miguel Brewery Inc. is a producer of beer in the Philippines. The Company has five breweries strategically located across the Philippines and a developed distribution system serving approximately 471,000 retail outlets. The Company's beer brands include San Miguel Pale Pilsen, Red Horse, San Mig Light and Gold Eagle. Other beers are marketed under the brand names Cerveza Negra, Red Horse and Gold Eagle. The Company also sells Cali, the malt-based, non-alcoholic drink. Cali is available in three variants: Cali, Cali Ice and Cali Light. The Company's products can be categorized into three classes based on the target market: Upper Popular, Broad Popular and Economy. Upper Popular products cater to upscale markets especially in urbanized areas, while the Broad Popular segment serves the majority of the population or the mass market. The Economy segment caters to the low-end market. The Company owns and operates five breweries in the Philippines.
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Friday Asian stocks received a positive lead from Wall Street. US stocks overnight posted a slim gain, supported by better-than-expected retail sales data and analyst upgrades of a batch of blue-chip companies. Yesterday most Asian markets closed lower on renewed worries about China's policy tightening. Hong Kong's Hang Seng Index slid 1.4 per cent, while Shanghai Composite lost 2.4 per cent, with China's banking and property shares dropping sharply. Singapore market was also impacted by China's property bubble concerns, and Straits Times slid 0.5 per cent. Japan's Nikkei 225 was off 1.1 per cent as strong yen hurt exporters.
Philippines' food and beverage giant San Miguel Corp. (PSE:SMC) said its second-quarter net profit rose sixfold from a year earlier, largely due to the asset sale to Japanese brewer Kirin Holdings (TYO:2503).
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