INDIA: United Breweries FY profits rise despite Q4 blip
- FY net profits increase by 36% to INR1.72bn (US$30.5m)
- Net sales climb by 9% to INR39.03bn
- Operating profits up by 16%, hitting INR3.06bn
- Q4 profits down by 20%
United Breweries is part of the UB Group
United Breweries has posted strong full-year results despite a drop in final-quarter profits.
Net profits jumped by 36% to INR1.72bn (US$30.5m) in the 12 months to the end of March, the Kingfisher brewer said yesterday (30 May). Net sales climbed by 9% to INR39.03bn over the same period while operating profits were up by 16% to INR3.06bn.
Fourth-quarter numbers were less rosy. Net profits fell by 20% to INR58.5m in the three months to the end of March and net sales increased by 7% to INR10.04bn. Operating profits decreased by 30% to INR455.2m.
The brewing division of The UB Group said, however, that the "amalgamation" of UB Ajanta Breweries into United Breweries in the previous fiscal year means that fourth-quarter numbers "are not comparable with those of corresponding periods of the previous year".
The results mirror United Breweries' YTD results, when nine-month numbers were strong but Q3 saw profits fall.
The Bangalore-based division saw its share price increase by 4.5% at the close today, following the release of the FY results.
United Breweries is 37.5%-owned by Heineken.
To read the company's official statement, click here.
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