Hong Kong: San Miguel HK recorded 63.5 % increase in operating income
San Miguel Brewery Hong Kong Ltd. reported on February 27 a 2005 consolidated gross revenue of HK$1.27 billion, compared with HK$1.26 billion in 2004. Gross revenue in Hong Kong grew 1.0 percent to HK$704 million and gross revenue in mainland China remained stable at HK$564 million, it said, according to INQ7.net.
Hong Kong operations recorded a 63.5 % increase in operating income to HK$15.2 million, the company said. Flagship brand "San Miguel" retained its standing as the leading beer brand in Hong Kong, it said.
San Miguel is the largest player in the Hong Kong beer market with total market share of about 29 percent.
Commenting on the company's China strategy, San Miguel president and chief operating officer Ramon Ang said, "Our priority in our China operations is to gain momentum and improve competitiveness and build on buoyant demand for our highly popular local brand."
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