Brewery group posts moderate profit rise

Switzerland's leading brewery, Feldschlösschen of Rheinfelden near Basel, reports that profits in its last business period (October 1998 to December 1999) were slightly up at SFr52.5 million on sales of SFr1.34 billion.

Switzerland’s leading brewery, Feldschlösschen of Rheinfelden near Basel, reports that profits in its last business period (October 1998 to December 1999) were slightly up at SFr52.5 million on sales of SFr1.34 billion.

Taken on an annual basis, turnover was down one per cent at SFr1.09 billion and profit up 1.5 per cent at SFr50.2 million.

A company statement said that an increase in sales of mineral water and sparkling beverages did not completely compensate for the decline of beer sales, which was caused by “awful weather conditions and changing consumer habits”.

It added that the launch of new products – Cardinal Best, Feldschlösschen Quinto and Cardinal Millennium – helped to compensate for the decline of sales of regional beers. Exports showed an “encouraging” sales growth of 15 per cent.

Feldschlösschen, which also has substantial real estate holdings, said the sale of 18 non-strategic properties brought in SFr20.8 million during the period under review.

The board of directors is recommending that shareholders approve an unchanged dividend of SFr8 per share when they meet in Basel on May 22.

From staff and wire reports