COLUMBIA: Huge leap in Q1 net income for Bavaria
Grupo Empresarial Bavaria has posted a sharp rise in net income for Q1. The Columbian conglomerate said yesterday that net income hit COP22.2 billion (US$8.5m), up from COP5.9 billion in the corresponding quarter last year.
The company credited the increase to a large fall in financial expenses of 52% to COP182.9 billion in year-on-year terms.
Operating revenue for the quarter totalled COP1.14 trillion, a slight fall from COP1.17 trillion, while beer sales volume rose by 5.9% to 6.6m hectolitres.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by 8.7%, however, to COP468.5 billion.
Earlier this year, Bavaria said that it plans to become the world's seventh largest producer of beer within three years. The company currently says it stands at the number ten position.
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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