Coop­ers’ profit falls flat

Mercury (Hobart) - - BUSINESS -

FLAT beer sales, ris­ing bar­ley prices and a grow­ing range of ri­val brews have taken their toll on the big­gest Aus­tralian-owned beer maker, Coop­ers Brew­ery.

Profit at Coop­ers, one of the na­tion’s largest fam­ily-owned busi­nesses, dropped by one third to $23.1 mil­lion for the year to June.

The softer bot­tom line came de­spite the beer maker lift­ing the vol­ume of beer sold by 2 per cent to 76.8 mil­lion litres, Coop­ers re­ported yes­ter­day.

“The re­duced profit was at­trib­ut­able to a chang­ing sales mix, higher bar­ley prices and more com­pet­i­tive mar­ket con­di­tions, with some seg­ments show­ing de­clines in re­tail pric­ing,” man­ag­ing di­rec­tor Tim Cooper said.

In 2018 the grow­ing pop­u­lar­ity of craft beer, flat­ter growth for main­stream beers and a con­tainer de­posit scheme helped end 24 con­sec­u­tive years of vol­ume growth by Coop­ers.

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