Boozy Brits boost S&N
SCOTTISH & Newcastle has seen a massive jump in UK sales of its main four beers as it reaps the benefits of a 15% jump in promotional spend.
Brits drank 9% more Foster's, Kronenbourg, John Smiths and Strongbow in the six months to 30 June than in the first six months of the previous year, marking a strong turnaround from previous sluggish sales.
New chief executive Tony Froggatt has been spending much of his time turning around the UK business, including measures like the closure of its breweries in Scotland and Newcastle. Today he said he was confident of reaching cost savings of £60m, and would not rule out further redundancies.
Stripping out the impact of its sale of the pubs estate to Spirit group last October, pre-tax profits were £158 million against £146m a year earlier on turnover up from £2.29bn to £2.38bn.
BRITISH Waterways has named S&N Pub Enterprises as its preferred partner for a nationwide scheme to open 59 pubs along 2,000 miles of canals and rivers.
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