UBL says GST reforms to push alcohol demand, eyes 6-7% growth this FY

Leading beer maker United Breweries (UBL) expects a 6 to 7 per cent volume growth this fiscal despite the impact of rains in some of the key states during the second quarter, said its Chief Executive Officer and Managing Director Vivek Gupta. Besides, premiumisation is also expected to grow by 25 per cent and the long-term outlook for UBL, now controlled by Dutch multinational brewing company Heineken NV, is “very strong”, Gupta told PTI. He expects recent GST reforms, in which the government is lowering the taxes on most consumer goods and some services, effective from September 22, will also help increase the consumption of alcoholic beverages.

Source: Business Standard