US: Craft Brew Alliance FY sales up, but CEO eyes improvement
- Preliminary FY net sales up 6%
- Own-brand volumes up 8%
- Q4 sales rise 5.4%
The company's CEO has mixed feelings about its performance
Craft Brew Alliance has reported a 6% rise in preliminary FY sales, but its CEO says the group “can do much better”.
The Pacific Northwest-based brewing firm, whose brands include Redhook and Omission, said it saw an 8% lift in own brand volumes in the 12 months to December 2013. In the fourth quarter sales were up 5.4%.
However it warned that contract brewing income fell 40% in 2013, as it continues to feel the effects of a cancelled agreement with Anheuser-Busch InBev-owned Goose Island.
No profit details were given in the update, released yesterday (28 January).
“For everyone who knows me, it will come as no surprise that I am candidly mixed in terms of how I feel about our financial performance last year”, said CBA's CEO Andy Thomas. “On the one hand, I am extremely proud of the record growth in sales and brand momentum that we achieved; but on the other hand, I know we can do much better given the talent, strategy and structure we have in place."
Looking ahead, the group said it was aiming for "continued international expansion" across all its brands. The company is also looking to innovate in the cider category, it said.
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