Interbrew thanks Stella for profits increase

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Related tags: Marketing

Increased volumes of Stella Artois and price increases have helped to drive up operating profits for Interbrew UK.The Belgian group revealed its...

Increased volumes of Stella Artois and price increases have helped to drive up operating profits for Interbrew UK.

The Belgian group revealed its progress for its first seven months with Whitbread Beer Company and four months with Bass Brewers.

The combined business increased operating profit to £60million and net turnover to £1billion on a comparable basis.

Interbrew said volume growth for Stella Artois led to an increase in profits for the former Whitbread business, but it said Bass Brewers was flat because an increase in off-trade volumes was knocked by beer declines in pubs.

Despite rising sales globally, the Belgian group reported an annual loss of £570million because of a £750million one-off charge for the forced sale of Bass Brewers.

It has asked the High Court to allow it to have longer than six months to sell the UK beer business, which was blocked by Trade and Industry Secretary Stephen Byers.

Miles Templeman, the former boss of Whitbread Beer Company, has decided to quit as managing director of Interbrew UK in April. He will be replaced by sales and marketing director Stewart Gilliland.

Related topics: Beer

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