San Miguel Corp., Southeast Asia's largest beverage and food group, said Tuesday first-half net profit soared 199 percent to P19.7 billion, including gains from asset sales, backed by strong beer sales.The company said the reported earnings had one-off gains of P5.67 billion from discontinued operations in the first quarter as well as proceeds from the listing of its domestic beer unit and sale of stake in a property firm.
Profit without the extraordinary gains reached P14.5 billion, which, according to San Miguel president and chief operating officer, Ramon Ang, is "significantly higher" than last year.
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