E-Malt.com News article: Saint Kitts and Nevis: Carib Brewery raises sales by 5.6% in 2008

Carib Brewery, St Kitts - Nevis' leading alcoholic beverages manufacturer, reported a pre-tax profit of of just over EC$5.3 million (East Caribbean dollars) in 2008, compared to EC$5.8 mln in 2007, Cuopm.com posted on September, 1.

The company’s annual sales increased by 5.6 percent to EC$32 million compared to EC$30.3 million in 2007.

“2008 has been a very good year for Carib Brewery Limited as we continued to extend the boundaries of our markets. Though sales in the local market were not as vibrant as in the past years, Carib Brewery Limited was still able to maintain its dominant position in the local market with our flagship lager, Carib Beer, and was successful in strengthening sales with its leading export, Mackeson, to overseas markets including Barbados,” said Chairman Andrew N. Sabga.

He said from an operational standpoint costs were impacted by increases in raw material and fuel prices which went up by 25 percent and 10 percent respectively. Dividend income declined by approximately 33 percent to EC$360,000.

Mr. Sabga said he looks forward to continued government support of the company’s capital expenditure programme, which will go a long way in equipping the brewery to meet the growing challenge of increased market competitiveness, while generating shareholder value and employee benefits for years to come.

“We remain committed to maintain and expanding market leadership in our existing product categories and are confident that we can achieve our goal of continued growth and an even better year ahead,” said Mr. Sabga.

Carib Brewery Limited is a major producer of beers, stouts, malts, and other beverages including Carib, Skol, Stag, Guinness, Mackeson, Royal, Giant Malt, Vita Malt, Smalta, Ting, Ginseng Up, Peardrella and Juicy Beverages.


02 September, 2009