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SMC third-qtr results within.
San Miguel Corporation (SMC), the country's largest food and beverage firm, is starting to feel the pinch of its acquisitions this year as it reported a sharp 35% drop in its net earnings for the third quarter.
Sources who attended the company's investor's briefing yesterday noted that the company also announced a 4% drop in its net income for the first nine months to P4.8 billion.
The company's third-quarter net earnings also shrank 35% to P1 billion after the acquisition of Coca Cola Bottlers Corporation (CCBPI) from the The Coca Cola Group and Pure Foods Corporation from the Ayala Group.
"They are feeling the dilutive effect (of the …
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