Shares in brewers Scottish & Newcastle, owners of Beamish & Crawford in Cork, rose 8p to 711p on better-than-expected financial results achieved despite weaker consumer demand for much of the 12-month period to end-March.
Full-year profit, before tax and exceptional charges, was down 3 per cent at £402 million sterling (€615.5 million) on group turnover which barely changed at £3.3 billion. The key Scottish Courage beer division suffered an 8 per cent decline in operating profit to £197 million on turnover down 3.4 per cent at £2.03 billion, mainly reflecting a 3.1 per cent decline in the total British beer market and re-negotiated supply contracts.
In Ireland, though, Beamish continues to build its brands. Managing director, Mr Alf Smiddy, said the company's stout had lifted its market share to record levels on the back of improved sales and enhanced distribution. Miller Genuine Draft achieved double-digit growth and bottled Miller Genuine Draft has moved into second spot in the premium lager market.
Overseas, Beamish continues to be successfully promoted as the only Irish-brewed stout sold into export markets that is not complemented by stout produced in breweries in other countries. Mr Smiddy said "great advances" had been made in the US and European markets.
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