PSE Circular for Brokers No. 216-00
PSE Circular for Brokers No. 216-00 • Philippine Stock Exchange • Circulars for Brokers • Jan 31, 2000
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January 31, 2000 PSE CIRCULAR FOR BROKERS NO. 216-00 SMC BULLISH ABOUT YEAR 2000 San Miguel Corporation (SMC) views this year as an even better year overall for the Company. This is clearly reflected in the Company's aggressive revenue growth targets. The Company expects to yield significant increases in volume this year through major initiatives in new product development, more efficient logistical infrastructure end more aggressive marketing and selling programs. The Company expects to even further improve its financial standing this year. A key aspect of the Company's financial strength is its cash reserves of about P47 billion. A major move to further strengthen its financial position is to substantially reduce this year its more expensive long-term debt. Likewise, the Company is availing of favorable interest rates to lock in lower cost funds that will be utilized for working capital requirements to support the aggressive near-term expansion projects. Based on preliminary results, the San Miguel Group will register a consolidated net income of P6.02 billion in 1999.
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