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Alaska Milk, Century, SM Development: Philippine Stock Preview

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Feb. 22 (Bloomberg) -- The following companies may have unusual price changes in Philippine trading. Stock symbols are in parentheses and share prices are as of the most recent trading day.

The Philippine Stock Exchange Index fell 0.9 percent to 4,900.94.

Alaska Milk Corp. (AMC PM): The owner of the Philippines’ most popular milk brand said 2011 profit fell 39 percent from a year earlier to 1.1 billion pesos ($25.8 million) on lower sales. Fourth-quarter net income increased 7 percent to 432 million pesos, it said in a disclosure to the stock exchange today. Alaska Milk lost 3.2 percent to 15 pesos.

Century Properties Group Inc. (CPG PM): Its parent Century Properties Inc. sold 868.3 million shares of the builder to APG Strategic Real Estate Pool NV, it said in a statement. APG now owns 9.8 percent of Century Properties Group and the latter’s public ownership is now at 27.3 percent, it said. Century Properties fell 4.4 percent to 1.74 pesos.

SM Development Corp. (SMDC PM): The builder owned by Henry Sy, the Philippines’ richest businessman, reported profit in 2011 rose 38 percent from a year earlier to 4.18 billion pesos. The company “pre-sold” 11,726 residential condominium units valued at 26.27 billion pesos in 2011, exceeding its target of 23.57 billion pesos, the company said in an exchange filing today. SM gained 0.3 percent to 7.33 pesos.

To contact the reporter on this story: Cecilia Yap in Manila at cyap19@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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