Coors happy with low-growth Bass

- Last updated on GMT

Related tags: Bass brewery, Trademark, Coors brewers

by Mike Bennett Coors ­ a year on from taking over the old Bass beer empire ­ admitted it had only grown its sales by a "low, single-digit"...

by Mike Bennett Coors ­ a year on from taking over the old Bass beer empire ­ admitted it had only grown its sales by a "low, single-digit" percentage point in that time. The American-owned brewing giant, however, mostly put a positive spin on its full-year financial results ­ with two of its UK brands soaring by 20% and 40%. Chief executive Peter Kendall insisted that 2002 "reflected the very successful transition of this business". He continued: "Our key brands continued their growth in both volume and share. Though volume growth in the fourth quarter alone was flat, sales for the total segment were strong during the important Christmas period." The parent company, announcing year-end figures across all its global and domestic operations from its headquarters in Colorado, included what it termed its "Europe Segment" ­ overwhelmingly the brands acquired from the former Bass Brewers. The UK division now makes up more than a third of Coors' total sales and about 29% of its turnover. And chairman Peter Coors was quick to pinpoint the importance of the British presence ­ "the first major acquisition in our history." He went on: "It has made our company larger, stronger and more flexible. Our goal is to build on our success in the UK." But chief operating officer Peter Swinburn warned in an exclusive interview with the Morning Advertiser in November that the company would take its time expanding into new brand launches ­ although it unveiled a new cask ale, Worthington 1744. 2002 financial highlights

Coors Brewers' total share grew to more than 21% of the UK market

Carling sales reached 4.5m barrels

Grolsch sales grew by 20% in the year

Reef soared by nearly 40%

Launch of Worthington 1744 and Screamers

Arrival in Scotland with offices in Livingstone and with its high-profile football sponsorship of "Old Firm" rivals Celtic and Rangers

£35m investment in the Burton brewing complex

Related topics: Beer

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