SINGAPORE: Big brands boost Asia Pacific Breweries FY
Strong growth from Tiger and Heineken beer brands have boosted Asia Pacific Breweries in its full-year, the brewer has said.
Revenue for the 12 months ended 30 September rose by 12% to S$2bn, Asia Pacific Breweries (APB) said on Friday (14 November).
It attributed the growth to a strong performance from Heineken and Tiger beers, as well as its ability to adapt strategy in different regional markets.
Net profit slipped 7% to S$123.4m during the period, due mainly to currency rates and a $19m write-down charge from the Heineken-APB investment in Kingway Brewery Holdings, the firm said.
Roland Pirmez, who became APB CEO on 1 October, welcomed the group's "robust" results, but warned: "The next few years will be challenging. The Asian beer market, long considered a region of robust growth, will be facing its share of challenges as several Asian economies have already entered a recession."
Pirmez outlined a six-point recession action plan, which includes continued global expansion for Tiger, driving cost savings at the group's 30-strong brewery network and refining both marketing expertise and distribution. More specific details were unavailable.
The group has proposed a net dividend for the year of S$0.32 cents per share. If approved, this will be paid on 10 February 2009.
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