Increased operating margins and lower income taxes and interest have helped Chile’s leading brewer CCU cut its second quarter net loss by 65.5% this year.
The company reported an April-June net loss of US$1.4m compared to a net loss of US$4.0m in the same period a year earlier.
Revenues were up 10.6% in the period to US$110.4m as volumes increased 9.1%. The company also managed to push through some price increases.
CCU said lower income taxes were a result of the absence of the effect of the peso depreciation in the quarter. Meanwhile a decrease in minority interest payments was a result of lower net income at its winery unit, Vina San Pedro.
“In this period, the beer Chile and beer Argentina businesses performed very positively,” the company said in a statement, adding that the wine segment did more poorly than expected.
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By GlobalDataThe company reported a 3.3% rise in operating profit to US$1.4m.
