Asia Pacific Breweries’ net profit surges 34% to S$155m in 1Q12

IndoChina and Thailand reign as the group’s largest contributors at 45%.

According to a financial statement, Asia Pacific Breweries’ attributable net profit gained S$39 million or 34% to S$154.7 million for the first quarter ended 31 December 2011. Profit before interest and taxation grew S$60.4 million or 29% to S$267.9 million. Group Revenue increased 16% to S$994.3 million.

Excluding translation differences, the impact of acquisition and disposal and gestation loss from Guangzhou greenfield brewery last year, organic APBE and PBIT grew 31% and 29% respectively

IndoChina (i.e. Vietnam, Cambodia and Laos) and Thailand retained its top spot as the Group’s largest PBIT contributor at 45%. The region reported a PBIT gain of 18%, driven by an 18% rise in volume, improved margins from price increases in Vietnam and a favourable sales mix in Cambodia.

Oceania (i.e. New Zealand, Papua New Guinea, New Caledonia and Solomon Islands) reported a PBIT increase of 48%. Continued strong consumer demand in Papua New Guinea, favourable translation gain from a 17% appreciation in the Kina as well as contributions from the newly acquired brewery in Solomon Islands attributed to the robust performance of the region. Oceania accounted for 28% of Group PBIT.

PBIT from South & Southeast Asia (i.e. Singapore, Export Markets, Malaysia, Indonesia and Sri Lanka) grew 18%, owing to double-digit volume growth in Indonesia, Export Markets and Sri Lanka as well as improved margins from price increases. The region contributed 26% to Group PBIT.

North Asia (i.e. China and Mongolia) recorded a 66% rise to S$0.3 million in PBIT with improved margins resulted from the restructuring of China operations to focus on the international premium brand strategy.