E-Malt.com News article: Australia: Coopers Brewery announces a record profit of AU$19.5 million for 2006-07 financial year on growing beer sales

Coopers Brewery Limited has announced a record AU$19.5 million profit for the 2006-07 financial year on the back of growing beer sales in Australia and overseas, in a press release, November 8.

The result represents a 53.5% increase over the 2005-06 profit of AU$12.7 million, although that figure was impacted by costs associated with the defence of the attempted takeover bid by Lion Nathan in 2005.

Coopers Managing Director, Dr Tim Cooper, said turnover in 2006-07 had reached a record AU$141 million, 8.2% above the AU$130 million in 2005-06.

“Beer sales in 2006-07 have again shown solid growth with total sales rising by 7.9% from
2005-06,” Dr Cooper said.

“On the national stage, Coopers now accounts for 3.2% of all beer sales with growth of 22% in beer volume in the eastern states and Western Australia. Total beer sales in Australia generally have been static and for Coopers to be able to continue to grow its sales and achieve a record profit is a testament to the company’s strength.”

Dr Cooper said much of the company’s strong performance nationally could be attributed to the efforts of Coopers’ distribution company, Premium Beverages Pty Ltd, which is responsible for distribution across Australia, apart from South Australia and the Northern Territory. Premium Beverages is majority owned by Coopers.

Premium Beverages also distributes Budweiser in Australia as a result of an agreement with Anheuser-Busch.

The Budweiser range was supplemented in October last year with the introduction of Michelob ULTRA, a world-recognised premium beer.

“Sales of Michelob ULTRA and Budweiser have continued to grow strongly,” he said.

“Premium Beverages has also recently signed an agreement to distribute the Dutch premium beer Grolsch in Australia, and we anticipate that will have a positive impact on our results in the coming year.”

Dr Cooper said the latest profits and continued expansion work at the brewery were confirmation of Coopers’ strategic decision to move to Regency Park in 2001.

“We have just completed work on a $10.5 million capital works program, including expansion of the warehouse, the installation of a new labeller, the addition of two more fermenters and the purchase of additional kegs,” he said.

“Everything is in place for a new era of growth and profitability for Coopers.”


09 November, 2007