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SINGAPORE : Asia Pacific Breweries (APB) on Thursday said its fiscal first-quarter profit rose 45 per cent on-year to S$70 million.
Stronger sales volumes boosted revenues by 10 per cent on-year to S$639 million.
APB said the performance was driven by its Indochina market which saw volumes rise 35 per cent due to strong festive sales. Its New Zealand and Malaysia also fared well.
The brewer benefited from higher prices for its products, an improved sales mix and lower costs for packaging materials.
Looking ahead, ABP has cautioned that the growth rate for the remaining nine months of its fiscal year is expected to moderate.
But it still foresees higher net profit compared to last year, supported by the acquisition of breweries in Indonesia and New Caledonia and the divestment of its loss-making Indian operations. - CNA/ms
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