Latest News | UBL Witnesses High-single-digit Volume Growth in Jan-Mar Quarter

New Delhi, Apr 20 (PTI) Leading beer maker United Breweries Ltd (UBL) witnessed a "high-single-digit" volume growth in the domestic market during January-March 2022 quarter, according to its largest stakeholder Heineken.

Moreover, the consolidation of UBL in India has "positively impacted net revenue" by Euro 200 million, Dutch brewing major Heineken said on Wednesday in its earnings statement for the first quarter of 2022.

Also Read | OnePlus Nord N20 5G Launched in the US; Price, Features & Specifications.

"In India, beer volume grew by a high-single-digit, outperforming the market. UBL experienced progressive growth during the quarter with the declining impact of the COVID omicron variant," it said.

The Asia Pacific region, under which India falls, has returned to growth following the lockdown in the second part of last year, Heineken added.

Also Read | Redmi 10 Power With Dual Rear Camera Setup Launched in India at Rs 14,999.

Heineken's Asia Pacific net revenue grew 9.2 per cent organically, with total consolidated volume rising by 2.8 per cent.

"The consolidation of UBL in India positively impacted net revenue by Euro 200 million or 4.6 per cent," it said.

Its beer volume increased organically by 2.8 per cent over the last year, led by the strong recovery of Cambodia and Malaysia.

"The premium portfolio declined by a low-single-digit, driven by Vietnam while staying ahead of 2019 by a high-single-digit," it said.

UBL, a listed entity here, is yet to announce its quarter numbers for January-March.

As per a regulatory filing, UBL's board is scheduled to meet on April 26, 2022, to consider the audited financial result for the quarter and year ended March 31, 2022.

In the first quarter, Heineken's global net revenue was Euro 5,753 million and increased by 24.9 per cent organically, with total consolidated volume growing by 5.7 per cent.

Heineken now owns 61.5 per cent stake in UBL.

Last year, it acquired additional ordinary shares in UBL, taking its shareholding in the company from 46.5 per cent to 61.5 per cent.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)