Interest and borrowing costs also increased by $1.7 million during the year, reflecting the debt incurred by the malting project and previous share buybacks, he said.
The Australian beer market is highly competitive and features deep discounting as well as a surge in the number of craft breweries and their beers. At the same time, liquor makers are making significant attempts to woo beer drinkers to other alcoholic beverages.
The Australian beer industry has grabbed headlines in recent months after it was announced in July that Japanese brewer Asahi had struck a $16 billion deal to buy Australia’s biggest brewer, Carlton & United Breweries, off its European-based owner Anheuser-Bush InBev (AB InBev). The deal is yet to receive regulatory approval, but is expected to do so.
The release of Coopers Original Pale Ale in cans in August 2018 helped boost sales for our leading product.
Dr Tim Cooper, Coopers Brewery managing director
Coopers is a family business headquartered in South Australia, where it was established in Adelaide 157 years ago. The company is currently led by members of the fifth generation, while members of the sixth generation have joined the business in recent years.