The world's leading instant noodle maker Indofood said last week
that its first-quarter net profit rose 48 per cent from the prior
year's same period thanks to an increase in sales and
foreign-exchange gains.
Asia Pacific Breweries is making headway in its aim to become the
region's leading brewer, with its first acquisition in the world's
second most populous nation, India.
Chinese dairies need to invest more in R&D to capitalise on
future growth in added value products like milk drinks, cheese and
yoghurts, advises a new report from consultants McKinsey.
Philippines-based Universal Robina will spend P5.6 billion (€87m)
this year to expand its branded foods range and increase its
presence in other Asian markets, URC president Lance Gokongwei told
reporters last week.
The world's biggest instant noodle maker, Indofood, said yesterday
that its 2005 net profit fell 68 per cent on the prior year to
IDR124 billion (€11.4m).
US soft drinks giant Pepsi opened its first research and
development centre outside the US in Shanghai yesterday, signaling
its commitment to the fast-growing Chinese market.
Uni-President, Taiwan's biggest food group, is looking for private
equity to allow it to expand further in the Chinese beverage
sector, according to a report.
South Korean brewer Hite announced Friday it work with Jinro, the
country's leading distiller, to create the leading bottled water
brand on the national market.
PepsiCo has announced it will invest another $850m in China over
the next three years in recognition of the country as a rapidly
emerging market for soft drinks and snack foods.
French dairy giant Danone has received approval from the Chinese
authorities to more than double its existing stake in China's
biggest dairy company, Tom Armitage reports.
Heineken last week announced its decision to acquire a 40 per cent
stake in the Chinese brewery Jiangsu DaFuHao, after intimating in
its February results that it would continue to look for investment
opportunities.
The future of the milk formula market in China lies with better
product quality and greater brand loyalty following the revelation
last year that much of the formula on sale there was fake. The move
towards higher margin products...
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