China: San Miguel announces strong growth in China
San Miguel Corp, the Philippines' largest food and beverage conglomerate, announced on January 16 that its brewery unit in China posted double-digit sales growth in 2005, according to Dow Jones. San Miguel Baoding Brewery posted sales of $16.8 million in 2005, up 13% from the 2004. Sales volume was up 22% on year.
San Miguel didn't say how much the China operation contributes to its overall revenue. The group's revenue totaled PHP161 billion in the January-September period, up 32% on year. San Miguel started operations in North China in 1996, with the purchase of the former Bada Baoding Brewery.
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