Philippine-based San Miguel - 15% owned by Japanese brewer Kirin - said third quarter net profit soared 53% to 1.56bn pesos in the three months to September 30 on sales of 33bn pesos.

The company said sales of beer, soft drinks, some packaging, animal feed and processed meat mainly accounted for the quarter's strong performance.

"San Miguel expects to sustain its growth momentum approaching the peak season in the last quarter and remains focused on meeting its full-year targets," the company said in a statement.