COLUMBIA: Bavaria income battered by acquisitions
Bavaria, the Columbian brewer, yesterday posted its 2003 figures. The company said that net income last year reached 97.9 billion pesos (US$37.6m), but gave no comparable figures.
In February last year, Bavaria announced that it had recorded a net income of 336.2 billion pesos for 2002. This indicates a drop in profits in 2003 of 71%. No other figures for 2003 were announced.
The beer company has been acquiring smaller brewers in Columbia, Ecuador, Panama and Peru in recent years, making it the second-largest brewer in South America. In August last year, the company reported consolidated net income of 41.9 billion pesos for the first half of 2003, down by 41% from 71.5 billion pesos in the first half of 2002.
Late last year, Bavaria's president Ricardo Obregon said that declining profits throughout 2003 would reflect the costs associated with the company's rapid expansion into other Latin American countries.
Having recorded a third consecutive year of volume, margin and earnings growth, global brewing force, SAB Miller, was in a position to give shareholders a 27% dividend increase and eye the acquisition...
The race for ownership of Empresarial Bavaria could be settled within the next few weeks, according to press reports....
Brewers SABMiller and Heineken are thought to be close to making another proposal to acquire the Latin American business Bavaria....
Speculation is growing that a bid for Empresarial Bavaria could come in the next two weeks....
InBev believes that other companies are more interested in Bavaria than it is....
Rumours that SABMiller is poised to launch a bid for Empresarial Bavaria swept the trading floor yesterday (2 June)....
Shares in the UK-based brewing group, Scottish & Newcastle (S&N), rose on the back of a rumour that the company has pulled out of the race to acquire the Colombian brewer, Bavaria, The Times has repor...
Bavaria has authorised a five-year syndicated loan of up to US$250m....
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