Lion Nathan Q1 Revenues Up 6.6%
Lion Nathan(LNA), a producer of alcoholic beverages in Australia and New Zealand, has reported revenues of AUD687.4m in the first quarter of fiscal 2010, an increase of 6.6%, compared to the same quarter last year.
The company claims that XXXX Gold, a beer brand in Australia, has continued its growth along with Hahn Super Dry. New beverages such as XXXX Summer Bright Lager and Hahn Super Dry 3.5 has also shown impressive growth according to the company.
The company said that Boags portfolio has continued to grow benefiting from the reach of its route to market and an increase in marketing investment. In the year 2009, the New Zealand alcohol market declined 3.3% in volume terms, while the beer market declined 5%.
Lion Nathan New Zealand (LNNZ) witnessed a total volume stable of 0.4% and a revenue growth of 2.3% in the December quarter.
During the quarter, LNNZ began brewing at its Auckland Brewery called 'The Pride'. The company claims that this provides an improved cost base and manufacturing innovation agility.
Rob Murray, CEO of Nathan Foods, said: “ The investments LNA has made in its brands, breweries and people's have created a strong and agile business.”
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