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LUXEMBOURG: Quinsa increases sales, profit

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Beer group Quinsa increased revenue by nearly a third in the first half of 2008, it has announced.

The Luxembourg-based firm, which has licences to produce and sell AmBev beer brands in Argentina, Bolivia, Chile, Paraguay and Uruguay, said today (15 August) the rise was due to both higher beer prices and improved volumes. 

Net profit after tax increased to US$ 148.2m, compared to US$ 100.2m in 2007. Beer volumes rose 12% to 9.5m hectolitres, while soft drinks volumes increased 10% to 6.3m hl.

AmBev yesterday praised Quinsa's performance, despite what it described as challenging conditions in the group's Argentinian heartland.


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