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July 25, 2003

PERU: Backus net profit up in Q2

The Peruvian brewer, Union de Cervecerias Peruanas Backus & Johnston (Backus), has reported net income for the second quarter of PEN71.6m, up from PEN58.2m in the corresponding quarter last year.

The Peruvian brewer, Union de Cervecerias Peruanas Backus & Johnston (Backus), has reported net income for the second quarter of PEN71.6m, up from PEN58.2m in the corresponding quarter last year.

Net sales rose marginally from PEN238.2m to PEN239.4m for the quarter.

Net profit for the first six months rose from PEN104.9m to PEN135.4m on sales slightly up at PEN492.3m, against PEN491.1m in the first six months of last year.

The Colombian brewer, Bavaria, owns a controlling stake in Backus which enjoys a monopoly in the Peruvian beer market. The Venezuelan group, Cisneros, retains a minority participation in the brewer.

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