SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-Q

QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES
REGULATION CODE AND SRC RULE 17(2)(b) THEREUNDER

1. For the quarterly period ended

Jun 30, 2014

2. SEC Identification Number

PW-277

3. BIR Tax Identification No.

000-060-741-000

4. Exact name of issuer as specified in its charter

SAN MIGUEL CORPORATION

5. Province, country or other jurisdiction of incorporation or organization

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

No. 40 San Miguel Avenue, Mandaluyong City, Metro Manila, Philippines Postal Code 1550

8. Issuer's telephone number, including area code

(+63) 632-3000

9. Former name or former address, and former fiscal year, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
SMC	2,377,024,797
SMC2A	721,012,400
SMC2B	90,428,200
SMC2C	255,559,400

11. Are any or all of registrant's securities listed on a Stock Exchange?

Yes

No

If yes, state the name of such stock exchange and the classes of securities listed therein:

Common Shares and Series 2 Preferred Shares in three sub-series (2-A, 2-B, 2-C) - Philippine Stock Exchange

12. Indicate by check mark whether the registrant:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17 thereunder or Sections 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of the Corporation Code of the Philippines, during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes

No

(b) has been subject to such filing requirements for the past ninety (90) days

Yes

No

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

San Miguel CorporationSMC

PSE Disclosure Form 17-2 - Quarterly Report References: SRC Rule 17 and
Sections 17.2 and 17.8 of the Revised Disclosure Rules

For the period ended	Jun 30, 2014
Currency (indicate units, if applicable)	Php (in millions)

Balance Sheet

	Period Ended	Fiscal Year Ended (Audited)
	Jun 30, 2014	Dec 31, 2013
Current Assets	479,135	489,006
Total Assets	1,174,068	1,170,087
Current Liabilities	303,533	335,546
Total Liabilities	787,678	804,310
Retained Earnings/(Deficit)	175,316	166,486
Stockholders' Equity	386,390	365,777
Stockholders' Equity - Parent	246,573	237,707
Book Value per Share	69.42	66.34

Income Statement

	Current Year (3 Months)	Previous Year (3 Months)	Current Year-To-Date	Previous Year-To-Date
Operating Revenue	209,872	179,480	404,708	358,011
Other Revenue	1,520	1,117	2,320	2,315
Gross Revenue	211,392	180,597	407,028	360,326
Operating Expense	192,524	165,983	371,835	329,075
Other Expense	2,762	21,644	11,345	28,513
Gross Expense	195,286	187,627	383,180	357,588
Net Income/(Loss) Before Tax	16,106	-7,030	23,848	2,738
Income Tax Expense	3,714	-2,397	5,440	-215
Net Income/(Loss) After Tax	12,392	-4,633	18,408	2,953
Net Income Attributable to Parent Equity Holder	9,867	-6,637	12,021	-2,400
Earnings/(Loss) Per Share (Basic)	3.51	-3.44	3.77	-2.3
Earnings/(Loss) Per Share (Diluted)	3.49	-3.41	3.75	-2.28

Other Relevant Information
None