AUSTRALIA: Fourfold profit increase at Coopers

The South Australian brewer, Coopers Brewery, reported a profit of A$20.2m for the year to the end of June 2002, up from A$4.59m for the previous year. The company's profits were swelled by the sale of its Adelaide Maltings subsidiary to grain company, Ausbulk, resulting in a A$16.2m exceptional profit.

January 24, 2003

The South Australian brewer, Coopers Brewery, reported a profit of A$20.2m for the year to the end of June 2002, up from A$4.59m for the previous year. The company’s profits were swelled by the sale of its Adelaide Maltings subsidiary to grain company, Ausbulk, resulting in a A$16.2m exceptional profit.

Coopers’ turnover rose from A$96.3m to A$123.9m. Brewing is the company’s largest division, producing sales of A$43.7m in the year under review.

The Coopers beer range includes the Coopers Sparkling Ale, Coopers Pale Ale and Coopers Stout brands. South Australia accounts for around 60% of its beer sales. Nationally, the company has around a 2% market share.