However, the growth figures are slightly misleading as the company’s performance in the comparable period in 2001 was adversely affected by a two-month strike. The results were therefore viewed as neither good nor bad by analysts. “If you take last year’s strike into account, then these really aren’t outstanding figures at all,” said Sergio Ortiz of local brokers, Correval. “But we also don’t consider these results bad, especially given the state of the Colombian economy and the beverage sector in general.”
COLOMBIA: Bavaria reports first half gains
Colombian brewer, Bavaria SA, posted first half net profits of COP73.7 billion ($28m), 7.3% up on the corresponding period last year. Operating revenues rose from COP452.3 billion ($172m) to COP648.1 billion ($246m).
August 2, 2002