Author: James Wilmore | 6 August 2012
Big Rock Brewery has reported a sharp rise in first-half profits boosted by volume growth in the "value" segment and a drop in business costs.?
Net profits soared by 202% to CAD1.79m (US$1.79m) in the six months to the end of June, the Calgary-based craft brewer said on Friday (3 August). Sales in the period rose by 6.6% to CAD22.54m.?
Operating profits also saw a sharp rise, increasing 211% on last year's first-half to CAD2.39m. Volumes were up 6.5% to 109.2m hectolitres.?
Q2 saw a similarly impressive performance, with operating profits up 198% to CAD2.3m. However, volumes only marginally increased, rising by 1.9% to 61m hectolitres.
The company said the rise in sales compared to volumes was due to price rises across most regions and products, which took effect in the latter part of Q1 and early Q2.
"Higher sales volumes, predominantly in the value-priced segment, fuelled by growth in retail channels," also added to sales growth, the group said.
However,?Big Rock said it saw its premium-priced signature brands perform well, but core brands saw volumes dip in Q2.
Looking ahead, the brewer said: "Contrary to stagnant or declining trends across the domestic beer industry, Big Rock has been able to increase its 2012 volumes compared to 2011 and management expects consumer demand for its products to remain positive throughout the remainder of the year."?
It added that management will "continue to monitor and adjust the selling prices of its products".?
For Big Rock's full statement, click here
Source: http://www.just-drinks.com/news/big-rocks-h1-profits-boosted-by-value-sector-growth_id107790.aspx
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