CANADA; Sleeman sees profits leap on advertising push
Sleeman Breweries saw its third quarter net earnings jump 42%, compared to the same period last year, as an increase in advertising and promotional expenditures resulted in strong sales of both premium and value brands nationally.
Canada's third-largest beer company behind giants Labatt Brewing Co. Ltd. and Molson Breweries, saw its revenues increase 22% C$48m, profit hit $C3.7m, compared with C$2.6m a year earlier.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 14% to C$8.5m for the quarter, from C$7.5m for the same period a year ago. EBITDA for the nine-month period increased 7% to C$23.1m, from C$21.6m for the comparable period a year ago.
"Our decision to increase our advertising and promotional expenditures and invest more heavily during the peak summer season has been validated as we continue to profitably build market share," said John Sleeman, chairman and chief executive officer.
The company said that based on the foregoing, it remains confident it will meet its stated earnings per share targets for the year.
"With three-quarters of the current year's sales now completed, we are anticipating positive results to year-end," said John Sleeman.
Molson Coors is more likely than not to keep hold of its Brazilian operations because of the huge potential of the market there, an analyst has said. This is despite a run of poor results from the com...
Molson is to start production of Coors' Blue Moon beer for the US market from its Montreal brewery....
First quarter losses announced last week by Molson Coors are wider than originally reported, according to a recent filing....
Molson Coors Brewing Company disappointed investors yesterday by reporting a net loss for the first quarter of 2005. The company said that it had achieved higher consolidated net sales and sales volum...
Molson Coors Brewing Company said yesterday that Daniel J. O'Neill, Vice-chairman, synergies and integration and formerly president and CEO of Molson Inc, has chosen to leave the company May 31 of thi...
Heineken has its eyes on possible acquisitions in Latin America, according to the company's CEO....
Molson Canada has announced it has acquired Ontario microbrewery Creemore Springs Brewery Ltd. Established in 1987, the brewery in Creemore, Ontario, 120 kilometres northwest of Toronto, employs 50 pe...
Peter M. R. Kendall, chief executive officer of Coors Brewers Limited, the European business unit of Molson Coors Brewing Company, will retire from his post on 1 May....
- Allegro: The shape of things to come at Pernod?
- The End of the Road for International Beer Brands?
- Comment - Another One Bites Bacardi's Dust
- Pernod Ricard's FY Performance by Region, Brand
- US craft vodka puts squeeze on Pernod's Absolut
- Pernod bemoans tough FY as sales, profits drop
- Bacardi announces CFO switch
- ASA bans Jägermeister TV ad
- Pernod Ricard set for CMO switch
- Scotch whisky leaders sign pro-UK letter