CHINA: Kingway Brewery takes 2006 hammering
The Chinese brewer yesterday (23 April) reported that revenue for 2006 fell to HKD1.41bn (US$180.4m), compared to HKD1.20bn in 2005.
Net profit recorded a more alarming fall, down to HKD110.20m against HKD198.28m a year earlier.
In September last year, Kingway warned that marketing costs and initial expenses related to the construction of breweries in Xian and Chengdu would eat into earnings for 2006. For the first half of last year, net profit was down 12% year-on-year to HKD71.1m from HKD80.6m in the corresponding period in 2005.
Heineken holds an indirect 21.44% interest in Kingway through Heineken-APB (China), a joint venture between Asia Pacific Investment (API) and Asia Pacific Breweries. API is a holding company jointly-owned by the Dutch brewing giant and Singapore-based conglomerate Fraser and Neave.
The announcement earlier this week that Carlsberg and Heineken are discussing making a bid for Scottish & Newcastle came far too early for the two European brewers. With no bid having been actually ma...
Spanish investment firm Ibersuizas has bought El Alcazar from Heineken for EUR10m (US$14.3m), an Ibersuizas official confirmed yesterday (18 October)....
Heineken is to close its beer museum in Amsterdam for eight months, as part of a renovation of the exhibition....
Scottish & Newcastle has dismissed the possibility of a takeover bid from Carlsberg and Heineken....
Carlsberg has been pursuing Scottish & Newcastle "for years" ahead of this week's announcement that the Danish brewer is working with Heineken to make a bid for S&N, according to Carlsberg's former CE...
Heineken has distanced itself from speculation that it is looking to take over its partner in Asia, Fraser & Neave....
Carlsberg is set to take over the distribution of Modelo's Corona beer brand in Singapore and Malaysia from Asia Pacific Breweries....
Carlsberg and Heineken have confirmed that they are in early discussions to acquire Scottish & Newcastle....
- Is Diageo on the Brink of a Brain Drain?
- SABMiller edges Diageo as beer trumps spirits
- Stagnant wine growth a concern for Constellation
- Comment - Heineken's move for Pivovarna Lasko
- Will Keurig Kold come to Coca-Cola Co's Rescue?
- Rémy Cointreau eyes recovery after Q4 bounceback
- Chateau Bastor-Lamontagne's So Sauternes
- Bacardi cuts jobs at Global Brands unit
- Carlsberg exec joins Diageo as Africa chief steps
- Diageo targets Millennials with DeLeon ads