Heineken UK grew market share in 2009

By The PMA Team

- Last updated on GMT

Related tags: Heineken uk, Market share, Balance sheet

Heineken: market share gains
Heineken: market share gains
The UK's biggest brewer, Heineken UK, gained market share in 2009, according to Companies House documents. The company grew its market share to...

The UK's biggest brewer, Heineken UK, gained market share in 2009, according to Companies House documents.

The company grew its market share to 29.6% in the year ended 31 December 2009 compared to 28.2% the year before.

Heineken reported that it was able to "maintain turnover through successful pricing" — turnover rose by around £32m to £1.692bn from £1.660bn the year before.

The company had an operating loss of £23m compared to £292.2m the year before — the loss in 2009 included exceptional items of £25.3m.

It reported that it "began significant operational and administrative restructurings in 2008, which have continued in 2009 and which should result in a lower cost base in future years".

Interest costs stood at £159.7m (compared to £259.6m the year before) and relate primarily to finance provided by other group companies.

The company stated: "As a legacy from the previous Scottish & Newcastle group structure the debt of Heineken UK is currently required to support investments in foreign subsidiaries.

"There is an on-going administrative restructuring process to transfer ownership of these operations to the relevant Heineken Group operating companies.

"Once this process is completed, the debt and interest burden of the company wlll be significantly reduced."

Loss after tax amounted to £132.8m compared to £830.3m the year before. The company has a net current asset position of £436.1m.

On 5 November this year the company received, as part of the aforementioned restructuring of subsidiaries, a dividend of £845.4m from its subsidiary S&N Finland.

The company added: "This will improve the net asset position of the company in 2010." Staff costs at Heineken UK reduced to £141m in 2009 from £202m the year before, when there were exceptional staff costs of £42.2m.

"Total staff numbers reduced to 2,546 in 2009 from 2,925 the year before.The highest paid director earned £250,000 in 2009 compared to £319,000 the year before."

Related topics: Beer

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