NEW ZEALAND: DB reports flat year-end profit
"It's been a tough market out there, but the encouraging sign is that the overall beer market is growing and that is the first time in 10 years we've seen any growth," said DB's managing director, Brian Blake, adding that the company expects to boost its EBIT level earnings and sales during the coming fiscal year to the end of September 2003. He also said the company's market share had remained constant at 35%.
Blake said DB had reinvested in its key brands with significant marketing initiatives during the last fiscal year and expected to reap the benefits in the coming year. "The board has been happy to reinvest for the future in high levels of marketing," Blake said. "We are also constantly looking at opportunities for growing the market."
In March of this year, the company changed its name from DB Group to DB Breweries to reflect the new focus of the business on beer which involved selling off Corbans Wines, Allied Liquor Merchants and NZ Liquor. DB Breweries is 76%-owned by Asia Pacific Breweries, the joint venture between Heineken and Singapore-based Fraser & Neave.
Heineken has restructured its top management, in a move that includes the retirement of current CEO and chairman Thony Ruys from October this year....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
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 ...
The US consumer goods group Fortune Brands has confirmed it is in talks about launching a joint bid with Pernod Ricard for Allied Domecq....
Fideuram Wargny has upgraded its rating of Pernod Ricard to 'buy' from 'hold'. Its analysts argue that the merger talks with Allied Domecq is a catalyst for share growth....
Fortune Brands has started making moves to acquire in the European drinks industry, according to press reports....
Heineken has acquired a 40% stake in a Chinese brewery....
Heineken Espana is looking to invest heavily in a new plant in southern Spain....
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