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PERU: Backus income falls on higher tax and costs

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Higher taxation helped drive down third-quarter net income at the Peruvian drinks producer Union de Cervecerias Peruanas Backus & Johnston, also known as Backus.

Third-quarter net income totalled PEN84.5m (US$25.3m), down from the PEN96.7m reported in the same period last year. The fall came despite a rise in gross revenues to PEN294.4m. Revenues in the same quarter last year reached PEN265.9m.

Backus said that combined with higher taxes, worker participation payments also affected income.

SABMiller said recently that it is planning a public offer for the class A shares in Backus that it does not already own.

SABMiller took control of Backus when it acquired Colombian brewer Bavaria earlier this year.


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