Chile's largest brewer, Compania Cervecerias Unidas (CCU), announced on February 5 it has seen its fourth quarter net profit increase 59% versus last year to 18.117 billion pesos (US$30.5 million). CCU attributed the leap to strong sales of its new Heineken product and to lower income taxes.

The company said its revenues grew 13.5% to 118.006 billion pesos ($198.7 million). The company cited strong beer sales in Argentina and Chile, as well as increased wine and soft drinks sales for the growth.

In a statement CEO Patricio Jottar said: "In the Chile beer segment volumes grew 7.3% and operating income 70.4 % due to the incorporation of Heineken to our portfolio...the appreciation of the Chilean peso, and the economic reactivation.”

06 February, 2004