S&N profits up almost 10%
Scottish & Newcastle, Britain's biggest brewer, today reported a 9.5 per cent jump in full-year pre-tax profit to £392 million.
A combination of increased demand for its products, cost efficiencies and a 1.1 per cent increase in market share lifted operating profit by 10.2 per cent to £194m, on sales up 3.5 per cent to £1.77 billion. The planned smoking ban will bring new challengesS&N spokesman
The Edinburgh-based brewer said that was against a background of "challenging conditions" which saw the overall UK beer market drop by 2.1 per cent.
In a statement, the firm said: "While the UK will continue to be competitive and regulations such as the planned smoking ban will bring new challenges, we believe that we can continue to outperform the market."
S&N - whose brands include Strongbow, Kronenbourg, Foster's and John Smith's - saw sales over the year to December 31 rise by 4.1 per cent to £3.93bn.
Last week, S&N reported that sales at its Russian-based Baltic Beverages Holding (BBH) joint venture with Carlsberg had increased by 21 per cent to £1.2bn over 2005.
Chief executive Tony Froggatt said: "In 2005 we were able to show just how much value we can add to mature markets if we concentrate on the essential aspect of a consumer-led business: creating brands that people love to drink.
"The dual strategy of driving value in mature markets and volume in emerging markets has delivered a satisfying performance in what was a tough year in a number of our markets."
To comment on this or any other story email us by clicking this link
