INDIA: United Breweries bullish on strong FY
- Net profits up by 73% to INR1.68bn (US$37.8m)
- Profits before interest and depreciation up by 46% to INR4.3bn
- Net sales up by 41% to INR27.8bn
- Brewer claims highest beer market share to date
United Breweries' full-year profits up by 73%
United Breweries has claimed a new record share of the Indian beer market after strong rises in full-year sales and profits.
The Kingfisher brewer has claimed a 54% volume share of India's fledgling beer market after strong gains in the year to the end of March. Its share was 51% for the previous year.
"Our performance was primarily driven by growth in Maharashtra, Karnataka and the Eastern markets," said the group, which is part of billionaire Vijay Mallya's UB Group. "Growth in these high value markets has had a favourable impact on our realisation per case," it said.
Volume sales rose by 23% for the 12 months, the group's best performance for four years. It added that cost controls further boosted profits before interest, tax and depreciation.
United Breweries' strong performance is also good news for Heineken, which holds a 37.5% stake in the Indian brewer.
To read just-drinks' comment on United Breweries' results, click here.
For the results press release, click here.
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