E-Malt.com News article: The Czech Republic: Plzeňský Prazdroj reports drop in revenues and profit before tax in FY to March, 31

In the fiscal year ending March 31, 2011, Plzeňský Prazdroj reports income for sales of goods, the company's own products and services amounting to CZK 14.559 billion and profit before tax CZK 4.180 bln (excluding one-off, extraordinary accounting entries).

Financial performance has been influenced by the increase of the excise on beer in January 2010 and continuous adverse economic conditions, the Czech brewer said on June, 7.

Despite of that Plzeňský Prazdroj remains a significant contributor to the Czech economy, paying CZK 4.7 bn in taxes and investing CZK 53.8 million into the communities

Revenues from main activities decreased by 5.5% to CZK 14.559 billion. Profit before tax decreased by 10.8 % to CZK 4.180 billion.

Doug Brodman, Managing Director of Plzeňský Prazdroj, commented on the results:

“Brewing industry plays a significant role in the Czech culture and the economy. Over the last 2 years, challenging market conditions have significantly influenced the whole Czech beer market. One of key adverse influences was beer excise tax increase during the difficult economic conditions. This measure did not meet government expectations at all and adversely impacted the brewing industry’s ability to develop and invest.

These market conditions have reflected in our results for the year, however, we have continued to invest not only into our breweries and brands but also to the development of communities where we operate. We will continue to retain our focus on further development of our brands, our people’s capability and delivering the best beer experience to our consumers.”

With total sales of over 9.9 million hectolitres in the calendar year 2010 (including licensed production abroad) and exports to more than 50 countries around the world, Plzensky Prazdro, is a major beer producer in the region and the largest exporter of Czech beer.

Plzensky Prazdroj, a. s. is a member of the SABMiller plc.


08 June, 2011