SINGAPORE: Healthy beer volumes boost APB
Rising beer volumes across most key markets drove a jump in quarterly profits at Asia Pacific Breweries, the company said today (11 August).
The Singapore-based brewer posted a 44% leap in net profit to S$30.6m (US$19.4m) for the three months to 30 June. The Tiger Beer brewer added that, when excluding the one-off adjustment on royalties and gestation losses, net profit was up by 24% on the year.
It has proved a busy three months for APB. The brewer has expanded its presence in India, signed a beer venture with the Lao government had secured a licensing deal in Vietnam with Australia's Foster's Group.
CEO Koh Poh Tiong said: "Together, these investments will further bolster APB's overall market position in the IndoChina beer market and generate greater returns ahead."
Volumes in IndoChina leapt 20%, rose 17% in Singapore and were up 3% in Papua New Guinea.
Sectors: Beer & cider
Constellation Brands has lined up a replacement for the outgoing president at Hardy Wine Company. John Grant will assume the position at the Australian wine unit, replacing David Woods, who is set to ...
Japanese drinks group Suntory is reportedly planning to sell a range of coffee RTDs in Singapore and Malaysia....
SABMiller India has cooled on its plans to buy local brewer Mt Shivalik, just-drinks has learned. Sources close to the situation have told just-drinks today (16 January) that talks between SABMiller a...
The Wine & Spirit Trade Association has announced three additions to its executive board....
Foster's Group has named a prominent Australian business consultant to its board of directors....
Singapore-based Asia Pacific Breweries (APB) has secured another acquisition in Vietnam, the company said today (11 January)....
Foster's Wine Estates Americas has announced a promotion within its marketing team....
Australia's wine industry has formed a taskforce in an attempt to reduce the impact of this year's drought on the industry....
- Diageo's future brighter than present suggests
- Diageo's Q1 Results by Region
- Analysis - Remy's Cognac "dead-cat bounce"
- Focus - Remy Cointreau's H1 Performance by Brand
- SABMiller's troubles fuel M&A rumours
- Moët Hennessy unveils first Travel Retail outlet
- Diageo puts Beckham centre stage in Haig Club ad
- United Spirits sees Q1 net loss
- Diageo Q1 sales dip "in line with expectations"
- TWE unveils Penfolds range after CEO's "bold move"