Heineken NV (HEIA), the world’s third-largest brewer delivered a dismal earnings report on Wednesday, saying its first half profit fell 17 percent because of bad weather, weak “consumer sentiment” in Europe and the United States, and sluggish growth in developing countries.
It was widely expected that China would strike back. And the Asian dragon did as it launched anti-dumping probe on EU wine which is simply a counterattack as the world’s second economy cannot resign itself to the European Union’s step to impose tariffs on Chinese solar panels.
Out of the blue, Paul Walsh, successful chief executive officer at Diageo Plc, informed that he would retire after successful and fruitful 13 years managing the drinks giant. As it was made public, he would be succeeded by Diageo COO Ivan Menezes.
Carlsberg witnessed a decline in its quarterly profits as sales slumped in the Russian and Northern European markets. Similarly, shares of the company shrank following lower-than-expected fourth quarter earnings and high beer making expenses.
With only a few hours left until New Year’s Eve, France might to be in a Champagne mood as sales of its world-known sparkling wine are decreasing in Europe amid the European debt crisis. Yet the Champagne industry reposes hope in the U.S., Japan and other markets where it saw a growing interest in the sexiest wine in the world.
As many as 18 pubs are closing in Britain every week. Increasing cost of beer, high taxes and cheap supermarkets deals force owners to shut down their businesses, according to the Campaign for Real Ale (CAMRA). British industry leaders, including the British Beer and Pub Association, call for action as data on the rate of pub closures is unsetting.
C&C Group Plc has informed that it would buy US Vermont Hard Cider Co. for approximately $305 million. The Irish group decided to acquire US–based company to get the access to a fast-growing market and offset the weakness in its UK business.
The British beer industry claims that taxes are to be blamed for approximately 5 percent drop in beer sales in the third quarter. 117 million fewer pints were drunk by Britons in the third quarter ended September 30 compared with the same period last year, despite the Olympic Games as well as Euro 2012 football championship.
Diageo Plc, the world’s biggest spirits group, reported a 5 percent growth in quarterly sales. As it was stated the Diageo Plc growth in sales was driven by demand for brands such as Smirnoff and Captain Morgan in tthe United States and emerging markets as well. The company admitted, however, that its sales were affected by tough economic conditions in Southern Europe and Ireland as well.
Thai Beverage Plc accepted an Heineken N.V.’s $4.5 billion offer to acquire Fraser & Neave Ltd’s 39.7 percent stake in Asia Pacific Breweries Ltd. Till the day of Thai Beverage Plc’s acceptance, its owner, Charoen Sirivadhanabhakdi was the main opponent of the Heineken N.V.’s offer.
2012 London Olympics is said to have quashed trade at Green King’s central London pub but at the same time it helped increase Green King’s sales in the suburbs. According to Green King’s report published today, 2012 London Olympics had a minimal impact on the company’s performance, which had been expected by its officials. However Green King’s sales increased despite the wet weather in the summer.
Molson Coors Brewing Co. (TAP.N) published its quarterly profit report on Tuesday, and to everyone’s surprise in Wall Street it blew estimates. The financial result of Molson Coors is surprising partly due to the acquisition of the Central European maker of Staropramen beer, which was bought by Molson Coors in June this year. The company’s second-quarter earnings slumped 53 percent on higher cost, while the top line had been bolstered by higher volume in Canada and the benefits of newly purchased StarBev LP.
The tug-of-war over the control for Tiger Brewer which is a group of 24 brewery units in Asia and a profitable soft drinks company should finally come to a head as Fraser and Neave have been brought in to consider a takeover bid by Heineken. Their decision which will be announced by Friday could spell a split up for the Singapore-based property and beverage company.
Starbucks Corp., the world’s biggest coffee-shop chain, which proved the world that there’s nothing as paying too much for a cup of coffee, is planning to experiment with wine and beer, the two elixirs that Americans love. Food and Beverage magazines believe that Starbucks is looking to differentiate itself from competitors, by entering into an alcoholic beverage segment. Well, it seems that happy hours are back again for California and Atlanta.
Heineken’s flagship beer has lost U.S. market share to the likes of Belgium’s Stella Artois over the last five years, and is using Dos Equis, which Heineken acquired in 2010, as way to boost that market share once more. Sales of Dos Equis beer rose 17 percent for the quarter ending in October 2011, compared with Heineken’s 1-percent sales decline and industry wide declines of about 2 percent.
With the holiday season beginning in less than a week, many breweries are coming up with their 2011 holiday beers for consumers to pair with Thanksgiving turkeys and Christmas hams. Fortunately, there’s no eggnog beer or cranberry beer in the mix. Perhaps those will be some of the holiday beers of 2012? Anyway, here are what some breweries around the world are offering as Christmas beers this holiday season.
Exclusive, luxurious and very much desired, Richard Hennessy is the finest Cognac under the Hennessy brand. Originally known as Jas Hennessy & Co., the Hennessy brand was founded by Irishman Richard Hennessy in 1765 in France. A leading Irish Cognac house, Hennessy has established its superiority where the manufacture of Cognac is concerned, and figures […]
Wine connoisseurs world-over wait for this: a list of the best wines of the year, and given this specific event, a ranking of the world’s best chardonnays for the year. The Chardonnay du Monde® presents itself as the most widely recognized platform for getting your wine judged as one of the world’s best. 2011’s participant […]
Typical of the down-under love you say ? Two well-known facts: Aussies LOVE their beer. And they love everything Australian. So drink to this: A new Aussie beer company, Broo, owned by Kent Grogan, has given away shares with every slab of the beer purchased in order to keep it 100% Australian owned. According to […]