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COLUMBIA: Bavaria profit up slightly in H1

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Bavaria has posted a slight rise in net profit for the first half of this year. The Columbian brewer said yesterday that net profit increased to COP43.8 bln (US$16.6 m) for the first six months of this year, from COP42.6 bln for the corresponding period last year.

Operating income for the brewer also rose, to COP1.1 trillion (US$417.6 m) from COP988 bln year-on-year, the Securities Superintendency said.

The Superintendency did not make clear, however, if the results included consolidated returns from the company's subsidiaries abroad.

In June, Bavaria announced that it had issued COP438.2 bln (US$162.5 m) worth of ordinary bonds in Colombia to put toward debt management. The brewer said that the bonds carry maturities of between three and nine years, and are linked to Colombia's benchmark DTF interest rate and to the consumer price index.


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