Wednesday, April 24, 2024

Coopers bucks industry decline to record growth

Coopers Brewery has fought against the tide of falling beer consumption to post record sales and revenue for 2014-15.

Total beer sales for the year rose 4.7 per cent to 78.8 million litres, making it the 22nd consecutive year of growth for Coopers, while revenue for 2014-15 increased from $231.3 million in 2013-14 to $235.1 million. However, while Coopers’ packaged beer sales rose 6.3 per cent, keg beer volumes fell 2.7 per cent to 12.8 million litres.

Managing Director Tim Cooper said that even though the brewery achieved strong sales growth, its margins continued to be under pressure as retailers fought to maintain profits in the face of declining volumes.

“Higher rebates for keg beer result in upward pressure on wholesale prices, which, in turn, results in further reductions in consumer demand,” he said.

“Coopers also faced a significant rise in the cost of malt, one of our key ingredients, with the price increasing by $60 a tonne during 2014-15.”

Dr Cooper also said that despite the market challenges, Coopers had managed to increase its market share to almost five 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,” he said.

“We also reached agreement late in the year with US craft brewer Brooklyn Brewing to brew and distribute Brooklyn Lager in Australia and New Zealand.”

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