Brazil: Schincariol, Brazil’s second largest brewing group, announced on February 28 a 58% year-on-year growth of its sales to BRL2.54bn (US$970.5m) in 2004. Sales in the last quarter of 2004 rose by 10.5% against the corresponding period last year, up to BRL812 million. EBITDA (earnings before interest, tax, depreciation and amortisation) soared by 230% year-on-year in 2004, reaching BRL162 million.

Schincariol said it held 16.4% share in its domestic beer market.

The company added that it expects sales this year to rise by 15% year-on-year.

02 March, 2005