New Zeeland: Lion Nathan NZ announces 5.5% beer price increase

Lion Nathan NZ announced a 5.5% increase in beer prices to take effect from 1 July 2008, in a press release, May 16.

Peter Kean, Managing Director of Lion Nathan NZ, said price increases reflected the annual inflation adjustment to excise tax as well as higher production and distribution costs the company is facing.

“Like most New Zealand manufacturers, Lion Nathan has experienced significant cost increases over the past twelve months. All commodity prices have increased and energy and fuel price rises are also impacting our overall costs of production and distribution.

“While we continue to work hard to look for efficiencies across our business, we simply cannot continue to absorb all cost increases and we have no choice but to pass on at least a portion of them to our customers.” said Mr Kean.

20 May, 2008