Announcing its alcohol and business Q1 results for the 13 weeks ending 1 March 2012, Kirin said that despite the total beer market in Australia declining, its alcohol and beverages business grew revenue and profit, with a 4.6 per cent increase in sales to AU$502.5 million for the quarter.
Lion’s core trademarks performed well, with XXXX, Hahn, James Boag, and Australia’s second largest beer, XXXX GOLD, growing in volume and value share.
The popularity of its cider, Tooheys 5 Seeds, continued strong growth and is now the fastest growing alcohol category’.
A statement from Kirin said, “While the Australian economy has benefited from its strong resource sector, the retail, grocery and other consumer goods sectors continue to experience tough market conditions.
“Despite these challenges, Lion’s alcohol beverages business continues to manage its business for the long term through innovation and a sustainable balance of volume, pricing and mix.”
Australian dairy business
Lion’s Australian dairy operations was reported to have seen a 7.5 per cent drop in revenue to AU$675.2 million for the quarter.
Kirin blamed “ongoing low consumer confidence” which was further intensified by “sustained deep discounting on white milk” for the drop.
Lion’s ‘Dare’ brand of flavoured milk increased value share by 26 per cent, making it number one in the category. Its specialty cheese brands South Cape, Tasmanian Heritage and King Island also saw strong value growth during the first quarter.
