CANADA: Rising volumes give hope to Sleeman
Sleeman Breweries has posted losses for the first quarter of the year but insists that rising volumes will help turn around the business.
The Canadian brewer yesterday (11 May) reported a net loss of C$0.8m (US$724,000) for the first three months of 2006, compared to net earnings of C$1.6m last year.
However, a 10% rise in volumes helped prop up revenues, which rose 2% to C$40.6m. The performance was driven by rising sales in eastern Canada.
"We believe that we are on the correct path to return Sleeman to its historical volume and earnings trends in the face of continuing competitive challenges," said chairman and CEO John Sleeman.
Sleeman owns the distribution rights to Japanese brand Sapporo, sales of which grew 7% during the quarter. The period also saw the brewer attain the distribution rights to Mexican brands Dos Equis and Sol.
Nevertheless, the popularity among Canadian beer drinkers for economy brands continued to rise and Sleeman said it saw no foreseeable end to that trend. "The company expects that the intense price competition it has faced in key markets in the past two years will continue in 2006."
Sleeman said it would ramp up its marketing spending behind its stable of "value" brands in an attempt to stave off the threat of competition from brewers such as Lakeport Brewing, whose focus on low-priced beer has paid off.
Major brewing groups are clamouring to get into India, which, by dint of its young population, expanding economy and rising personal disposable income offers huge growth potential. International group...
Japanese beer maker Sapporo is reportedly set to buy the brewing facilities of regional brewer Ginga Kogen Beer Co. for JPY500m (US$4.3m)....
Japanese brewer Sapporo has secured a 95.8% stake in Canada's Sleeman Breweries after making an offer for the company's shares....
Sapporo has been given the green light by Canada's authorities to acquire Sleeman Breweries....
Combined shipments of beer, happoshu and so-called 'third-beer' in Japan were flat last month, according to recent figures....
Sleeman Breweries has confirmed that its sale to Sapporo is progressing as planned....
Sleeman Breweries is planning an export drive after its takeover by Japan's Sapporo, according to the Canadian brewer's chairman and CEO....
Japanese brewer Sapporo looks set to buy Sleeman Breweries after agreeing a takeover deal worth around C$400m (US$355.4m) with the Canadian beer maker....
- Spirits - Where does 'Craft' End and 'Mass' Begin?
- Brewers go Crazy over Flavoured Malt “Cocktails”
- What do A-B InBev results mean for SABMiller deal?
- Anheuser-Busch InBev's FY Performance by Region
- Much Work to do on Packaging in the US
- Diageo "smart bottle" targets consumers at home
- Tesco reinstates Dan Jago following suspension
- Tough US hits Mast-Jagermeister volumes in 2014
- George Clooney launches Tequila Casamigos in UK
- Pernod Ricard's Havana Club Union
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Wine, 2014 and the future
- Spirits and RTDs, 2014 and the future
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Beam Suntory Inc. - Strategy and SWOT Report