Peru: Country’s leading brewer, Union de Cervecerias Peruanas Backus & Johnston, or Backus, has reported fourth-quarter net income of PEN67.9m (US$19.56m), up from the PEN66.2m in the same period last year. The rise was helped by lower taxes, the company said. Fourth quarter gross revenues fell to PEN291.4m from PEN310.8m during the same period a year earlier. Full year net income reached PEN251.0m up from PEN221.3m last year. Backus, which has a monopoly on beer in the country, is controlled by Colombia's Bavaria SA. Venezuela's Cisneros Group and some local shareholders control the rest of the company’s stock.

20 February, 2004