The Philippines' largest food and beverage company, San Miguel Corporation (SMC), has announced consolidated operating income of P10.5bn (US$205.9m), 32% higher than the previous year's P7.9bn. The group said consolidated net income without the newly acquired Purefoods and Coca-Cola Bottlers Phil. (CCBPI), would have reached P7.3bn, up 7% from the previous year. With the acquisitions and their resulting short-term dilutive effect, net income amounted to P6.5bn against P6.8bn in 2000. EBITDA was at P18.6bn, up 44%.