Coopers spurts ahead as beer rivals wallow
Australia’s largest family-owned beer group, Coopers Brewery, has completed another year with record sales of 81.5 million litres, a rise of 3.3 per cent.
Packaged beer sales rose by 3.8 per cent and keg volumes also increased but at a much smaller 0.8 per cent.
FY2016 had a significant downside in that much tougher trading conditions in the US home brewing market have forced Coopers to write down by AUD $7.5 million the goodwill value of its American business, Mr Beer, which it acquired in 2011 for AUD $11.3million.
Revenue for the year increased by 4.6 per cent to AUD $245.9million but due to the write-down and the costs associated with the construction of a new malting plant in Adelaide, net profit fell by 16.3 per cent to AUD $24.2million.
The investment in Mr Beer has since 2011 returned AUD $5.3million and despite the setbacks in the US, Coopers is working hard to regain its place on the shelves of Walmart and Bed, Bath and Beyond.
The new malting plant is expected to be operational by the end of calendar2017 and should produce at least 54,000 tonnes of malted barley each year of which Coopers will use one third and export the remainder.
- Coopers Brewery profits go up despite market decline in alcohol consumption
- Australian restaurant diners drinking less alcohol
- Coopers continues strong growth despite tough beer market
- ACCC accepts AB InBev’s acquisition of SABMiller
- Lion woos beer customers with nutritional facts
On Friday 28 October, 2016, Phillip Tracy, the chairman of Murray Goulburn (MG) announced at the com...
Aldi Australia has been named the top employer for graduates looking for a career in retail and fast...
Australia’s first widely available certified organic beef hot dog range is now being sold in Woolwor...
Retail Food Group (RFG) has lowered its forecasted profits for its 2017 financial year.
A new Sara Lee Bavarian range has hit Australian supermarkets.
Nielsen Australia has released new research which indicates that one in three Australian consumers w...
The Thankyou Group will be phasing out all of its food products by April 2018.
South Australian family chocolate business Robern Menz has acquired the Violet Crumble chocolate fro...