Coopers’ profit falls flat
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.