Chile: The Chilean holding company, Quinenco, announced that, while sales in calendar 2003 fell, net profit rose to CLP37.69 billion (US$63m) from a loss in 2002 of CLP76.24 billion. Sales at the company, fell to CLP357.38 billion from CLP400.26 billion in 2002. Operating profit rose to CLP12.75 billion in the year to 31 December from CLP10.38 billion, while non-operating profit leapt to CLP177.24m from a loss in 2002 of CLP109.39 billion. Quinenco shares control of Chile’s largest brewer Compania Cervecerias Unidas.

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