‘One-time gains’ double San Miguel’s earnings

MANILA, Philippines – San Miguel Corp. (SMC), one of Southeast Asia’s largest food and beverage companies, said earnings last year grew by more than twice due to one-time gains from the sale of investments and properties.

Consolidated net income reached P19.3 billion in 2008, a figure that included “gains from its discontinued operations,” the company said in a statement.

The figure is more than double its 2007 profits of P8.63 billion.

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