COLOMBIA: H1 net profit down 41% at Bavaria
The company attributed the drop to the cost of financing recent international expansion.
"The reduction in net income despite higher operating profits is principally the result of the interest expense on the debt incurred to finance GEB's international expansion and modernisation, the amortisation of goodwill and charges for the voluntary retirement programme," the company said.
Operating income rose from COP215 billion to COP636 billion for the first half, on sales of COP2.34 trillion against COP1.29 trillion in the first six months of last year. Bavaria said beer volumes rose by 7.1% in the first half to 11.7m hectolitres.
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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