As per sources, Enforcement Directorate is planning ways to ensure that transactions such as the one industrialist Vijay Mallya struck with Diageo for Rs 500 crore does not take place in future. ED will shortly ask national depositories to freeze the shares owned by Mallya in listed companies. (more…)
C&C, the owner of the Bulmers/Magner cider brand and Tennents lager, will soon enter the Chinese market, after it signed a distribution deal for the world’s most populous country.
The company, which on Wednesday reported a fall of 10 per cent in operating profits in the year through February, is eyeing further growth in its international division, where sales rose last year by more than 12 per cent. (more…)
According to the Ministry of Industry and Trade of Vietnam, over the last four months, the beer production in the country has come 5.8% up versus the same period the previous year. (more…)
The global beer market is on track to generate $688.4 billion in sales by 2020. So, in having just a couple of percentage points share of this market, a beer brand can be hugely lucrative. (more…)
High temperatures during March and April left the people of the district in torrid weather but the same has contributed to abnormal rise in sale of beer and liquor.
Scorching temperatures and sale of booze are always directly proportional and the same has been proved by the tipplers who consumed as many as 5,57,580 cases of liquor and beer worth Rs. 132.20 crore during April alone this year. (more…)
Danish brewer Carlsberg A/S on Wednesday said sales fell more than expected in the first quarter due to decline in the Chinese market and foreign exchange fluctuation.
Sales fell 3 percent to 13.01 billion Danish crowns ($1.99 billion), missing the 13.18 billion crowns average of 14 analyst estimates compiled by Thomson Reuters. The negative impact from foreign exchange amounted to 5 percentage points, the brewer said. (more…)
Anheuser-Busch InBev company has disclosed 1Q2016 performance results and has shared expectations for the further year.
According to the quarter report, industry volumes in China remain under pressure. However, AB InBev volumes continue to perform ahead of the industry, declining by 1.1% in the quarter, helped by the focus on the Core Plus, Premium and Super Premium segments. (more…)
A vacation bench of the Hyderabad High Court on Thursday refused to hear a public interest petition filed by TDP MLA A Revanth Reddy, who questioned the wisdom of the state in supplying huge quantities of water to liquor distilleries instead of supplying water to thousands of parched villages in the state. (more…)
Suspecting serious lapses in financial dealings of various listed companies of Vijay Mallya-led United Breweries Group, the capital markets regulator Securities and Exchange Board of India (Sebi) has expanded its probe into possible diversion of funds by the promoters. (more…)
For the first time since Tamil Nadu took complete control of liquor retail and converted the monopoly into its chief money-spinner that contributes nearly Rs 27,000 crore to the state’s coffers, the main Dravidian political parties have been forced into acknowledging that the policy of promoting liquor has had serious consequences for the health of the people and the social fabric. (more…)