SAN MIGUEL FOOD UNIT 2013 NET INCOME DOWN 3%

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Although it saw a bit of an improvement in its revenues, San Miguel Pure Foods Co. Inc. (SMPFC), the food subsidiary of diversified conglomerate San Miguel Corp., still didn’t manage to grow its net income for the full year 2013. A disclosure to the Philippine Stock Exchange showed on Wednesday that SMPFC’s profit for the wholly year 2013 went down 3 percent to P4.1 billion from the P4.22 it had in the same period in 2012. The company, however, didn’t provide any explanation why its net income attributable to equity holders of the parent company fell in end-2013.

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