ABMiller surpassed Diageo as the largest UK drinks company by market value for the first time yesterday, as its share price rose 3.4 per cent to £17.14.
Shares in the brewer of Miller and Grolsch soared after it announced that its first-half profits rose 6 per cent to $1.92 billion (£1.15 billion) yesterday. It also announced a cost-cutting programme that it hopes will save $300 million a year by 2014. [...more]
APB Appoints New General Manager for Shanghai Asia Pacific Brewery Co. Ltd Asia Pacific Breweries Ltd (APB) is pleased to announce that Mr Samson Wong will assume the position of General Manager, Shanghai Asia Pacific Brewery Co. Ltd (SAPB) from 16 November 2009. As the General Manager of SAPB, Mr Wong will be responsible for […] [...more]
Tsingtao Brewery Co Ltd, China's second-largest beer brewer, and Japanese alcoholic beverage producer Asahi Breweries Ltd held a news conference in Tokyo on Wednesday to consolidate their cooperation, sources reported. [...more]
More than a quarter of SABMiller’s pre-tax profits were wiped off the brewer’s balance sheet by weakening exchange rates in the first half of the year.
The firm made almost $1.5 billion in the six months ended September 30th, down 26% from $2.02 billion in the same period last year. [...more]
Anheuser-Busch InBev has reported better-than-expected profit figures for its third quarter, as cost cuts and price hikes helped offset declining sales of its Budweiser and Bud Light brands. For the quarter, net profit amounted to $1.55bn, beating estimates of $1.39bn. No comparisons were given, as it was still being merged at the same time last year. [...more]
Pabst Brewing Company, with its roots firmly in Milwaukee, but now with executive offices in Woodridge, Illinois, is up for sale. The company was acquired in 1985 and is currently owned by Kalmanovitz Charitable Foundation, located in California, which must sell it as part of an IRS mandate that forbids charitable organizations to own for-profit companies. Apparently, the charity has attempted to sell the brewing company since an initial 2005 ruling with a 2008 deadline; no buyer has been found and the foundation was granted a 2010 extension. Estimates of the company's asking price are reported to be approximately $300 million. [...more]
Shipments of beer and beer-like alcoholic beverages in Japan fell 4.3 percent to 37.98 million cases in October, setting a record low for the month, industry reports said Thursday.
The number was the lowest for any October since 1992, when breweries began compiling comparable data. (One case contains 20 x 633-ml bottles) [...more]
9 November 2009 marks the anniversary of the Carlsberg Elephant Beer. Fifty years after its creation, Carlsberg Elephant is a true Carlsberg classic and some might even call it a design icon. One winter morning November 1959 the first trucks loaded with Carlsberg Elephant Beer took off from Carlsberg Brewery in Copenhagen. No doubt this […] [...more]
The Tanzanian competition authorities are investigating allegations of anti-competitive behaviour against SABMiller’s Tanzania Breweries Limited (TBL). The allegations have been made by Serengeti Breweries Limited (SBL), which is the global beer group’s only competitor in Tanzania. On Friday Godfrey Mkocha, the director-general of Tanzania’s Fair Competition Commission (FCC) said claims that TBL had resorted to […] [...more]
Molson Coors Brewing Company (NYSE: TAP; TSX) has reported double-digit income growth for the third quarter. Net income attributable to Molson Coors increased 37.4 percent to $235.3 millionfor the third quarter, up from $171.3 million a year ago. Underlying after-tax income(1) increased 22.7 percent to $212.9 million, or $1.14 per diluted share, up from $173.5 million, or $0.93 per diluted share, a year ago. [...more]
Kirin Holdings Co., Japan’s biggest beverage maker, cut its full-year net income forecast by 25 percent on costs to close two domestic breweries in the shrinking beer market. [...more]
Boston Beer Reports Third Quarter 2009 ResultsBOSTON, Nov. 5 – The Boston Beer Company, Inc. (NYSE: SAM) reported a third quarter core product depletions increase of 6% as compared to the third quarter of 2008. Net revenue for the third quarter of 2009 was $108.7 million, an increase of $7.6 million, or 8%, over the […] [...more]