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Asia Pacific Breweries reports APBE of S$246.1 million for H1 2012

(beveragemanager.net) - Asia Pacific Breweries (APB) announced that Group profit before interest, taxation and exceptional items (PBIT) for the six months ended 31 March 2012 rose S$102.2 million or 30% to S$443.1 million.

Thailand and Indochina (i.e. Vietnam, Cambodia and Laos) continued to be the Group’s largest PBIT contributor at 44.6%. Versus the first six months of last year, PBIT for the region rose 18% on the back of 12% volume growth and improved margins due to price increases in Vietnam, and a favourable sales mix in Cambodia.

"The 34% increase in APBE is a result of our positive performance in Indonesia, Vietnam and Papua New Guinea while beer price increases and strong beer demand in several markets drove the 16% revenue gain,” said Roland Pirmez, Chief Executive Officer.

North Asia (China and Mongolia) reported a loss of S$1.7 million at PBIT level. China recorded improved margins in line with our international premium brand strategy. While volume in Mongolia further improved, the performance in the market was impacted by currency realignment of US Dollar loans. Excluding this currency impact, North Asia would have recorded a S$1.0 million loss versus a loss of S$2.1 million last year. (bmg)