Carlton & United Breweries achieved strong earnings growth for the first quarter ended June 30, despite the continuing decline of its mainstream brands.
The Australian division’s net producer revenue (NPR)* rose seven per cent on the back of volume growth of four per cent, SABMiller reported yesterday.
“We continued to outperform our key competitors in the market, supported by sustained momentum in our premium and contemporary brands,” the parent company said.
“This was partly offset by the continued decline of our mainstream brands Victoria Bitter and Carlton Draught.
“NPR per hectolitre growth of three per cent was driven by favourable price realisation and positive brand mix,” the company said.
In March, CUB revealed it had recorded strong results with all three of its most recent product launches and renewals.
*Group net producer revenue (NPR) is a metric defined by SABMiller as the division’s like-for-like revenue after tax and share of joint ventures.