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Sober Day Dawns for China's Baijiu Distillers

Distillers of China’s most popular spirits, baijiu, are sobering up to a business slowdown and tight financing after a decade of outstanding growth.Sales are off and company market values have fallen over the past year, prompting some investors to cash in their bets on minor and big-name distillers alike.Industry leaders such as Tuopai Shede Wine Co., Kweichow Moutai Co. Ltd., ....

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East African Breweries sees recovery gaining pace in second half

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NAIROBI (Reuters) - East African Breweries expects sales to recover from a coronavirus-induced slump in its second half to June, its outgoing chief executive said, as nations in the region relax measures to curb the spread of the virus.
A worker inspects beer bottles on a conveyor belt at the East African Breweries Ruaraka factory in Nairobi, Kenya February 17, 2010. REUTERS/Thomas Mukoya/File Photo/File Photo
The brewer, which is controlled by Britain’s Diageo Plc, posted on Thursday a 3% drop in net sales for its first half to end December as sales were pummelled by the closure of bars. Post-tax profit plunged by a third. ....

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