E-Malt.com News article: Australia: Coopers Brewery posts record full-year sales and revenue

Australia’s Coopers Brewery has posted record full-year sales and revenue, despite a "troubling fall in consumption," increased pressure on margins and higher malt prices, The Courier Mail reported on November 5.

The company's total beer sales increased 4.7 per cent to 78.8 million litres in fiscal 2015. In the same period revenue edged up to A$235.1 million, from A$231.3 mln a year earlier.

The group's full-year profit after tax also crept higher, lifting to A$28.9 mln, from A$28 mln a year earlier.

A 6.3 per cent rise in packaged beer sales offset a 2.7 per cent decline in keg beer volumes to 12.8 million litres over the year.

“This decline in our draught beer volume is to a level we last saw in 2009,” managing director Tim Cooper said.

“This mirrors the fall in Australian beer consumption since 2009, when the national volume was 18.7 million hectolitres."

Dr Cooper said Australians were now drinking less than 17 million hectolitres per annum, a level not seen since 1972.

“This troubling fall in consumption represents a loss of nearly 10 per cent of Australia’s beer volume in six years, despite a growing population.”

The decline in consumption has increased the pressure on margins as retailers scrape to maintain their profits in the face of declining volumes.

“This has seen demands for increased discounts and rebates from retailers,” Dr Cooper said.

“Higher rebates for kegged beer result in upward pressure on wholesale prices, which in turn results in further reductions in consumer demand."

Despite the headwinds facing Coopers, the group has increased its market share to almost 5 per cent of the total beer market.

“Our international beer portfolio continued to perform strongly, underpinned by excellent relationships with our international partners, Carlsberg and Sapporo,” Dr Cooper said.


06 November, 2015