Peru: Backus y Johnston 1st half income more than triples

Backus y Johnston, Peru's only brewery, announced on July 27 its financial results for the second quarter and first half ended June 30, 2005. In the second quarter the brewery has registered a net profit of 85.5 million soles (EUR 21.65 mln or USD 26.31 mln), compared to 44 million soles registered in Q2 2004. Net sales in Q2 2005 accounted for 284.2 million soles, a 21% increase year on year.

In the first half of 2005 Backus y Johnston brewery has registered a net profit of 179 million soles compared to 55.9 million soles registered in H1 2004. Company’s net sales increased by 17.5% to 572.5 million soles (USD 176.5 million). Cost of sales accounted for 178.8 million soles in H1 2005 compared to 181.4 million soles year-on-year.

Backus y Johnston, Peru's only brewer, makes top brands Cristal, Pilsen and Cusquena. Backus is controlled by Colombian brewer Bavaria, which was bought this month by Anglo-South African group SAB Miller Plc. Backus, which controls 99 % of the Peruvian market faces a challenge to its monopoly position from InBev, the world's biggest brewer, which recently launched its Brahma beer in Peru via its Brazilian unit AmBev, Reuters commented.

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