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Brewer suffers as less lager is drunk

Business | Tobacco and alcohol
2009-11-20

BREWER SABMiller Plc reported a 32 percent drop in net profit yesterday after revenues were hit hard by unfavorable currency movements and declining lager sales. For the six months ending September 30, the brewer...

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Merged AB InBev tackles flat demand

Business | Tobacco and alcohol
2009-11-13

THE world's largest brewer Anheuser-Busch InBev SA said yesterday it made a US$1.546 billion profit in the third quarter but that revenue fell 10 percent from last year, when the company was created in a merger,...

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Heineken brews up 20% in net earnings

Business | Tobacco and alcohol
2009-8-27

DUTCH brewer Heineken NV reported yesterday a 20 percent increase in net profit for the first half of 2009 after booking a one-time gain on the repurchase of distressed debt at one of its subsidiaries. Analysts...

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Foster's brews up profit of US$619m

Business | Tobacco and alcohol
2009-8-26

AUSTRALIAN brewer and wine maker Foster's Group Ltd reported yesterday that its net profit rose 4 percent in the last fiscal year to A$741.5 million (US$619 million). The Melbourne-based company said in a statement...

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Rising cost of drinking white spirits

Business | Tobacco and alcohol
2009-8-15

CONNOISSEURS of premier Chinese spirits such as Wuliangye and Moutai now face higher prices for their favorite drink after the government announced it was changing the way it levies a consumption tax on distilleries,...

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AB stirs a mixed brew

Business | Tobacco and alcohol
2009-8-14

ANHEUSER Busch InBev said second-quarter profit rose 13 percent to US$1.1 billion, helped by sales of stakes in brewing companies but cautioned the recession was flattening beer consumption in key markets around the...

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Tsingtao brews 68% jump in H1 net earnings

Business | Tobacco and alcohol
2009-8-8

CHINA'S leading beer maker Tsingtao Brewery Co brewed up a 68 percent jump in net profit in the first half of this year as it sold more beer following a series of mergers and acquisitions. The nation's biggest...

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Less beer sold but Molson's net doubles

Business | Tobacco and alcohol
2009-8-4

BREWER Molson Coors said yesterday its second-quarter profit doubled as it raised prices and cut costs, despite selling less beer. Meanwhile, profit at Molson's joint venture with SABMiller's United States unit...

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Beijing Yanjing Brewery Co Brews up 25% rise in net profit

Business | Tobacco and alcohol
2009-7-29

NET profit at Beijing Yanjing Brewery Co, a major Chinese brewer, rose 25.05 percent to 318.42 million yuan (US$46.62 million) in the first half this year, boosted by sales, the company said yesterday. Turnover...

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Cheers to new liquor sales setup

Business | Tobacco and alcohol
2009-7-14

WULIANGYE Yibin Co, the second-biggest liquor maker by market value, said it will establish a sales company with its parent to replace a subsidiary in a bid to boost liquor sales. The liquor maker and its parent,...

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Cigarette giant finds a Match

Business | Tobacco and alcohol
2009-7-3

PHILIP Morris International Inc has agreed to buy Swedish Match AB's South African operations for 1.75 billion South African rand, or roughly US$222 million, it said yesterday. Swedish Match South Africa Ltd reported...

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AB InBev sells off plants in debt ploy

Business | Tobacco and alcohol
2009-7-2

ANHEUSER-BUSCH InBev, the world's largest brewer, said yesterday it had agreed to sell four metal beverage can and lid manufacturing plants to United States plastic and metal packaging products maker Ball Corp. ...

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Smoking gets more expensive

Business | Tobacco and alcohol
2009-6-22

CHINA has increased taxes on tobacco products, the government said over the weekend. The taxes rose to 56 percent from 45 percent on cigarette cartons costing 70 yuan (US$10.24) or more, the Ministry of Finance...

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Remy Cointreau's profits tumble

Business | Tobacco and alcohol
2009-6-11

PARIS-BASED wine and spirits group Remy Cointreau reported yesterday a 12.5 percent fall in full-year net profit, owing to substantial destocking by customers and costs associated with its exit from distribution network...

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Tsingtao sale to raise US$235m

Business | Tobacco and alcohol
2009-5-9

ANHEUSER-BUSCH InBev NV said it would raise US$235 million through selling its stake in China's Tsingtao Brewery Co Ltd, the latest move in its global sales spree to reduce debt. The world's biggest beer maker...