By P.R. Venkat

San Miguel Food & Beverage Inc.'s net profit rose more than twofold in the first half as business across divisions saw improvement in sales and selling prices.

Net profit was 17.36 billion Philippine pesos ($348.84 million), compared with PHP7.34 billion year earlier mainly supported by its protein and animal nutrition businesses, the company said Thursday.

Last year, San Miguel's businesses were severely affected due to lockdown in the country that saw temporary closures of the company's food-service and retail establishments.

Consolidated revenue rose 20% on year to PHP146.79 billion.

"Moving forward, we will continue to invest in areas that will boost our recovery, maximize shareholder value, while fulfilling the needs of our consumers, communities, and the country," the company's President Ramon S. Ang said.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

08-04-21 2006ET