News

CANADA: Net income falls at Sleeman

Most popular

Indonesia the wildcard in CCA buy - comment

Why rum should avoid gin's template for growth

Will Diageo earn its gin wings with Aviation?

The just-drinks analyst returns

What rum needs to do to recognise its potential

MORE
The Canadian brewer, Sleeman, posted first-quarter net income of C$1.9m, against C$2.0m in the first quarter of 2002. The company attributed the fall in profit to higher depreciation and amortisation charges and a rise in beer taxes in Alberta.

The comparable net income in the first quarter of 2002 would have been C$0.3m lower had the Alberta tax changes had taken place in the first quarter rather than the second quarter of 2002, the company said.

Sleeman reported that earnings before interest, taxes, depreciation and amortisation (EBITDA) in the first quarter reached C$5.6m, unchanged from the first quarter of 2002.

Net revenues rose by 19% to C$33.3m, with volumes also up by 19% at 244,000 hectolitres. Sleeman said the revenue growth stemmed from an increase in core volume sales, the launch of local production of Sapporo and higher net revenues from agency brands.

"Despite an unusually cold winter season and the fact that this year's first quarter did not benefit from Easter season sales as the first quarter of 2002 did, our core volume grew significantly in the current quarter," said Sleeman's chairman and CEO, John Sleeman. "Our 5% growth in core volumes compared favourably to an industry decline of 3% for the quarter."


Companies: Sapporo Holdings

Related Content

C&C Group falls into red as Brexit, US write-down drags down FY 2017 - results

C&C Group falls into red as Brexit, US write-down drags down FY 2017 - results...

"Zero-based budgeting hasn't been successful in building brands" - just-drinks speaks to Ross Colber...

Anheuser-Busch unveils Bud Light Twitter push for at-home American Football celebrations

Anheuser-Busch unveils Bud Light Twitter push for at-home American Football celebrations...

New CEO sparks optimism at Coca-Cola Co, despite pay wrangle - Analysis

New CEO sparks optimism at Coca-Cola Co, despite pay wrangle - Analysis...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?