Business Services Industry
Beer market goes flat.
Australasian Business Intelligence, November, 2002
Nov 07, 2002 (Herald Sun - ABIX via COMTEX)
Australian brewery and wine group Lion Nathan's profit was up 20 per cent for the year ended 30 September 2002. It reported a profit of $A162 million. CEO Gordon Cairns said on 7 November 2002 that he expected profit to be up a further $A20 million in the year ending 30 September 2003. The beer market had declined one per cent in the past year, and a similar fall was expected in the current period. Ready-to-drink beverages were cutting into the beer market, Cairns said. Price discounting and barley shortages had also hurt the brewer. On the positive side, beer volume was up 2.1 per cent in October 2002.
Publication Date: 8 November 2002
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