CCU Sales Reflect Falling Consumer Confidence

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Chilean beverage firm Compañía Cervecerías Unidas (CCU) has reported mixed sales figures for the first quarter of 2009. The firm, which operates principally in Chile and Argentina, reported a 3.5% year-on-year (y-o-y) increase in total volumes, compared to a 7.5% y-o-y increase in the fourth quarter of 2008. Over the period, sales of beer in Argentina increased and export sales of wine surged. However, in Chile, sales of beer, soft drinks, bottled water and wine all declined, which reflects a fall in consumer confidence and economic growth, and has implications for sales over the coming year.