AUS: Coopers shows annual profit boost
South Australian brewer Coopers has booked an increase in annual profit on the back of an 8.2% lift in revenue.
Coopers' profit rose 53.5% to AU$19.5m (US$17m) for the 2006-07 financial year, up from AU$12.7m (US$11m) in 2005-06, when the cost of defending a hostile takeover bid from Lion Nathan cut into reported earnings.
Coopers managing director Tim Cooper said sales were up 8.2% to AU$141m as beer sales rose 7.9% by volume, lifting domestic market share to 3.2%.
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," Cooper added.
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