Kirin Holdings has cut its sales and profits forecast for the first half of 2010. Kirin expects net sales to be JPY43bn (US$492m) for the six months to the end of June, 14% lower than previously predicted, the Japanese drinks giant said today (26 July). It added that net profits are expected to be JPY26bn, 7% lower than its earlier forecast, with operating profits set to be 14% lower at JPY29bn. “The revision is due to smaller dividend income from affiliates than initially forecast,”... ...Read more »

Japanese food and drink group Kirin Holdings has shuffled its management pack as the company looks to push on with plans to drive earnings. Kirin, which owns Australia’s Dairy Farmers and National Foods, said today (10 February) that executive vice president Senji Miyake would become president and CEO from next month. Current CEO Kazuyasu Kato will become Kirin’s chairman. The promotion of Miyake is the latest move from Kirin to establish “a leading company” in food and health... ...Read more »

Dutch brewer Heineken is set to expand their global operations with the purchase of one of the largest beer businesses in Latin America. The company will buy the beer division of Mexico-based Fomento Económico Mexicano, S.A.B. de C.V (FEMSA) for €3.8 billion (USD5.5 billion). The all-scrip deal will see FEMSA receive a 20 per cent in Heineken – the world’s third largest brewer – and two seats on the Board. FEMSA will continue to operate their other business as a Coca-Cola bottler... ...Read more »

Independent South Australian-based brewer Coopers has reported “exceptional growth” in interstate sales over the second half of calendar year 2009, leading to a record result for the year. And the company is confident momentum will continue into the new year, predicting sales will top 60 million litres for the first time. Coopers Managing Director, Dr Tim Cooper, advised that 58.781 million litres of beer were sold by the brewer last year, a 4.9% increase on last year. “In the... ...Read more »

South Australian brewer, Coopers Brewery, has announced sales growth of 5 per cent in the 2008-09 financial year, bringing turnover to $169 million. Profit after tax also rose, albeit by a small margin, to $20.3 million from $20.2 million the previous year. Total sales volume for beer rose by 1%, led by a 6.3% increase in sales outside Coopers’ home markets of South Australia and the Northern Territory. Coopers now accounts for 3.4% of the total Australian beer market, up from 3.3% at the end... ...Read more »

Lion Nathan, Australia’s second largest brewer, has delivered a 13 per cent increase in net profit after tax on the back of a 7.1 per cent rise in sales. The maker of Tooheys and XXXX, which was recently acquired by Kirin Holdings, said the result was a sign of the success of the strategy implemented five years ago. “Five years ago we decided to invest in our most valuable assets; our brands, our people and our breweries and we made a commitment that the investment would be followed by... ...Read more »

The global beer market continues to grow despite the dramatic upheaval in the world’s financial markets in 2008. The economic woes have, however, impacted beer volumes and, according to beverage research agency Canadean, growth in the global beer market dropped from a respectable 6% in 2007 to less than 2% in 2008. Canadean’s recently published Global Beer Trends Report anticipates a further slowdown in 2009 before demand begins to accelerate again in 2010. Asia’s growing influence... ...Read more »

In the beer industry, superior market share leads to superior margins, according to a new Rabobank report on the largest global brewers. In the next five years, market share will become increasingly important for all the major brewers, so it is no suprise to see continued consolidation in the sector. Margins and lower consumption Major brewers’ operating margins have not suffered from the economic downturn. On the contrary, restructuring, better pricing and lower production costs have helped... ...Read more »

Kirin Holdings and Suntory have sought approval from the competition watchdog in Japan for their merger plan despite being yet to announce a final agreement on a deal, according to reports from Japan. The merger would create one of the world’s largest food and beverage companies – ranking in the top five globally, with a major presence here in Australia. Together, Suntory and Kirin would combine to create a powerhouse in the beverage industry in Australia; with Kirin having recently purchased... ...Read more »

Kirin Holdings is planning to commit to a merger with Suntory in the near future in a bid to become the leading player in the food and beverage sectors in Asia and Oceania, according to a report published today. “We aim to be a leading company in Asia and Oceania,” Kirin Holdings Co. president Kazuyasu Kato told the Nikkei economic daily. “We’ll bolster our business strength and accelerate our expansion in overseas growth markets” by integrating operations with Suntory... ...Read more »