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Lion revenue up for fy13

Lion has released its trading update for the full year ended 30 September 2013, and it’s been a healthy one for the beer giant in Australia. Revenue is reported to be up 4.7% to $5,093 million, with help from the one-off benefit of adding Little World Beverages to its portfolio, alongside a number of distribution contracts in the international premium brands arena.

In a statement, Lion CEO Stuart Irvine said “While we have benefited from the addition of new brands to our beer portfolio in Australia the underlying conditions in the beer market remain tough, with like-for-like volumes in decline. There are however some positive signs that conditions may be on the cusp of improving, with the beer market returning to growth in the last quarter.

Australians are increasingly choosing quality over quantity in alcohol beverages, which is benefiting our long-term strategy of marketing and innovation investment to encourage consumers to trade up to higher equity brands,” Irvine continued. “We also continue to invest in our assets and since the conclusion of F13 opened our new Little Creatures Brewery in Geelong following a $60 million investment, which will improve distribution across the Eastern seaboard.”

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