AUS: Costs dampen Cooper's beer sales rise
Australian brewer Cooper's has reported annual profits of AUD20.3m (US$18.8m), up from last year's AUD20.2m, after higher malt costs offset a 5% sales rise to AUD169m.
Managing director Tim Cooper said dearer malt cut AUD2.5m from the bottom line.
Total beer sales rose 1% by volume, with a 5.2% decline in the traditional stronghold states of South Australia and the Northern Territory but a 6.3% increase across all other territories.
"Overall, we're happy that our total volume keeps increasing as a result of growth outside of South Australia and the NT," Dr Cooper said.
Export sales rose by 2.9% and accounted for 2.2% of sales by volume. Cooper's hopes to lift this to 8% by 2014.
Cooper's 80%-owned subsidiary Premium Beverages is looking for an import brand to replace the distribution contract for Budweiser, set to be handed to Lion Nathan next month.
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