INDIA: Key markets boost United Breweries' H1
- First-half net profits up by 46.7% to INR1.33bn (US$24.1m)
- H1 net sales rise by 24% to INR21bn
- Operating profits jump by 46.7% to INR1.99bn
- Q2 volumes up by 2%
United Breweries has seen a boost in volumes in its key Indian markets
Double-digit volume growth in key markets has helped United Breweries report strong rises in first-half profits and sales.
Net profits in the six months to the end of September jumped by 46.7% to INR1.33bn (US$24.1m), the Vijay Mallya-controlled brewer said late last week. Sales in the period rose by 24% to INR21bn.
Operating profits in the six months also increased by 46.7% to INR1.99bn.
In Q2, the brewer, which is 37.5%-owned by Heineken, saw net profits leap 75.2% to INR342m. Sales in the three months increased by 18% to INR8.7bn, while operating profits were up by 74.4% at INR512m.
The company, part of the UB Group, said it grew overall volumes by 2% in the quarter and saw double-digit volume lifts in “key markets” such Maharashtra, Karnataka, Rajasthan, Kerala, Bihar and Uttar Pradesh.
“The strong beer segment continues to drive overall volumes, with a growth of 10%, while mild beer volumes declined in line with the market by 4%,” it said in a statement.
The company's sister firm, United Spirits, is set to become majority-owned by Diageo after it was announced last week that Mallya and the UK-headquartered group have agreed a deal.
I can't remember precisely when I first saw the BRIC acronym. Indeed, with only ten years' experience of the drinks industry, it seems to be have been around longer than I have. I can remember, howeve...
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