NEW ZEALAND: DB first half net profit falls by 72%
DB Breweries, the country's second largest brewing force, reported net profit of NZ$13.4m for the six months to the end of March, 72% down from last year's figure of NZ48.7m. However, last year's figure had been boosted by NZ$35.3m from discontinued operations following the sale of the company's Corbans wine subsidiary.
The company said that earnings before interest and tax (EBIT) rose by 4.4% to NZ21.3m on sales 2.2% higher at NZ159.9m.
Managing director, Brian Blake, said the beer market in New Zealand had been relatively stable during the first half but "sales in the premium sector continue to increase, presenting DB Breweries with additional opportunities to maximise higher margins from our premium brands, Heineken and Monteiths."
DB Breweries is 77%-owned by Asia Pacific Breweries, a joint venture between Singapore's Fraser & Neave and the Dutch brewing conglomerate, Heineken.
Dutch brewer Heineken is rumored to have released a self-chilling beer can....
ING has raised its target for Heineken's share price after analysing the brewer's options to save costs....
Heineken's CEO-in-waiting has no plan to radically alter the brewer's strategy, he said in an interview today....
Heineken has restructured its top management, in a move that includes the retirement of current CEO and chairman Thony Ruys from October this year....
Heineken said yesterday that its Austrian subsidiary Brau Union AG has signed an agreement for the divestment of its Real Estate Division. This division comprises all non-business related real estate ...
Heineken has acquired a 40% stake in a Chinese brewery....
Heineken Espana is looking to invest heavily in a new plant in southern Spain....
Grupo Empresarial Bavaria is not looking to sell up, its president has confirmed....
- Interview - Pernod Ricard's luxury director
- What's coming up in wine in 2017? - Comment
- Chile's winemakers caught out by Brexit "disease"
- The just-drinks Analyst - 2017 forecasts
- The Cognac Category - Everything you need to know
- Diageo Australia names new commercial head
- Edrington readies Americas, GTR exec switches
- Suntory sends staff to fat camp - report
- High-end Cognac making recovery in China - Pernod
- "Beer and weed are complements" - analyst
- The Next Seven Big Beverage Markets
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Darker Than Before: Global Prospects for Brown Spirits
- Global gin insights - market forecasts, product innovation and consumer trends