Asia Pacific Breweries is toasting a strong H1

Asia Pacific Breweries is toasting a strong H1

Asia Pacific Breweries has posted a strong rise in profits on the back of a lift in sales for its latest half-year.

The company, a joint venture between Heineken and Fraser & Neave in the Asia Pacific region, said yesterday (13 May) that group profit before interest, tax and exceptional items (PBIT)  leapt by 45% year-on-year for the six months to the end of March, coming in at SGD250.2m (US$180.8m).

Group sales in the period were up by 17% on the corresponding period a year earlier at SGD 1.25bn.

“The demand for our beers remained strong in the second quarter although the growth rate has moderated as compared to the first quarter,” said Roland Pirmez, APB's CEO.

“For the six months under review, our largest PBIT contributor, IndoChina - comprising Cambodia, Laos and Vietnam - continued to be the group’s key driver of organic growth. The region, which accounted for 52% of APB’s total PBIT, recorded an impressive PBIT gain of 38% that grew on the back of a 30% volume increase.”

"Papua New Guinea and Singapore each contributed about 16% to group PBIT. The former enjoyed better margins from price increases while the latter benefited from improved export performance.”

Considering future outlook, APB said that it “continues to trade well amidst the highly competitive market conditions”.

Last month, APB upped its holding in Indonesian brewer Multi Bintang Indonesia.

For the full H1 announcement, click here.

For APB's Q1 results, click here.