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
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