INDIA: UBL enjoys Q3 figures climb
United Breweries Ltd has posted a leap in net profit for its third quarter on the back of rising sales.
The company, in which both India's UB Group and Scottish & Newcastle each hold a 37.5% stake, said late last week that net profit for the three months to 30 September more than trebled to INR132m (US$2.94m) from INR40.6m in the corresponding period a year earlier. Sales for the period also rose, doubling to INR2.2bn from INR1.1bn.
Compared to the second quarter of 2006, however, net profit could not match the INR275.3m generated in the three months to 30 June.
Separately, UB informed the Bombay Stock Exchange that it will amalgamate its subsidiary companies Karnataka Breweries & Distilleries, London Draft Pubs and London Pilsner Breweries.
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