Compania Cervecerias Unidas sees Q1 volumes rise by 6%

Compania Cervecerias Unidas sees Q1 volumes rise by 6%

The Chilean drinks giant part-owned by Heineken, Compania Cervecerias Unidas, has reported a solid rise in volume sales for the first quarter of 2011.

Compania Cervecerias Unidas (CCU) said that total volume sales rose by 6% for the three months to the end of March. Volumes in Chile increased by 5.8% and by 7% in Argentina versus the same period of last year, said the group at the end of last week.

Full first quarter results are set to be published in the first week of May, said the firm, which sells beer, soft drinks, wine, spirits and cider and is 33%-owned by Heineken.

In February, CCU reported an 8% rise in net sales for 2010, to CLP838.3m (US$1.78bn). However, net profits dropped by 15% to CLP119.9m.