Heineken’s joint venture with Fraser & Neave, Asia Pacific Breweries, has reported strong rises in beer sales and profits for its fiscal year.
Asia Pacific Breweries (APB) said this week that net sales leapt by 25.6% for the 12 months to the end of September, to S$2.51bn (US$1.94bn). Net profits leapt by 62.5% on the previous year, to S$356.2m, while operating profits came in 56% higher at S$470.5m.
The Tiger beer brewer’s CEO, Roland Pirmez, said that the group’s new beer divisions in Indonesia and New Caledonia boosted growth alongside a strong organic performance. “Organic growth was driven by a continuing robust beer demand in Vietnam and improved sales in New Zealand,” he said.
He also highlighted a 48% rise in pre-tax profits in the firm’s IndoChina business, which includes the hotly-tipped Vietnam market and contributes to around half of APB’s annual pre-tax profits. APB’s newly-acquired businesses, Mulit Bintang Indonesia and Grande Brasserie de Nouvelle Caledonie, contributed to 11% of the group’s pre-tax profits for the year.
“The completion of the acquisition of the businesses in Indonesia and New Caledonia and the disposal of the India businesses have resulted in a profound improvement in the geographical mix of the group’s operations,” said APB. “The new businesses are performing in line with expectations.”
It said that the group as a whole “continues to trade well” but warned that it is “sensitive to currency movements”.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAPB laid the foundations for expansion in several markets during the year. It has commissioned a new bottling line in Vietnam and has installed a brewhouse and canning line at the Lae brewery in Papa New Guinea. The brewer is also close to completing the construction of a brewery in Guangzhou in China, where the group broke even for the first time during its last fiscal year.