Union de Cervecerias Peruanas Backus & Johnston has posted a sharp drop in fourth-quarter net income. The Peruvian drinks producer, also known as Backus, said yesterday (14 February) that net income in the three-month period fell to PEN14m (US$4.26m) against PEN93.6m in the corresponding period a year earlier.

For the full year, however, net income at Backus was up to PEN277.4m against PEN246.2m in 2004.

In July last year, Backus said that for the first six months of the year, net income reached PEN179m compared to PEN55.9m a year earlier, on revenues up PEN627.3m from PEN516m.

SABMiller took control of Backus when it acquired Colombian brewer Bavaria last year. In October, the brewer unveiled plans to buy the remaining shares in Backus that it did not already own.

No-one was available for comment at SABMiller when contacted by just-drinks today.