02 August, 2006

Colombia: Bavaria first-half net revenues rose 12.3%

Colombian brewer Bavaria posted net profit July 31 of 168.6 billion pesos ($64 million) for the first half of 2006 as lower costs helped it reverse a loss of 38.2 billion pesos in the same period last year, Reuters released August 01.

The unit of London-based SABMiller said in a statement that net revenue rose 12.3 percent from a year earlier to 1.36 trillion pesos (516.5 million).

Sales volumes rose 7.9 percent in the first semester from a year earlier thanks to a stronger Colombian economy and more investment in its brands.

In the first quarter of 2006, the company - which said its results were also helped by recent exchange rate fluctuations - had posted a loss of 31.05 billion pesos. ($1 = 2,633 pesos)

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