Printer Friendly

Guinness profits increase in 1990.

Guinness profits increase in 1990

Guinness PLC announced that profit for 1990 increased 23 percent to $1.47 billion. Net profits for the year was $436 million, the company said.

"During 1990, we have traded reasonably well, in spite of difficult conditions in several of our markets," commented Guinness chairman Anthony Tennant. "The results have benefited from the strength of our brands and the advantage of a wide geographical spread of sales. Marketing spending has continued to grow in real terms, following the very substantial increase in recent years."

Guinness Brewing Worldwide, according to Tennant, has another good year and achieved profits of nearly $278 million.

Sales of Guinness Stout continued to show significant international volume increases, outpacing the growth of the world beer market for the seventh successive year, Tennant continued.

"Our joint venture in Malaysia and Singapore," Tennant explained, "which includes Heineken company, achieved good results which exceeded our expectations. In North America, we acquired All Brand Importers in the USA and Rymax Corporation, one of our distributors in Canada. Guinness is now the third largest distributor of imported beer in the United States.

"Since the year-end," Tennant reported, "GuinnessBrewing Worldwide has completed the acquisition of Cruzcampo, which is the largest and most profitable brewer in Spain."
COPYRIGHT 1991 Business Journals, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Modern Brewery Age
Date:Apr 1, 1991
Previous Article:Coors now true "national" brewer by adding Indiana.
Next Article:Aluminum recycling makes gains in 1990.

Related Articles
Guinness and Harp get jump on St. Patrick's Day.
Guinness posts 34-percent increase in first half of 1989.
Guinness PLC experiences 31% profit rise.
Guinness profits.
Guinness' meeting sets sights on "the wave of the future." (Guinness Import Co.)
Guinness chairman addresses meeting.
Olson named COO of Guinness Import.
New canned stout yields "authentic" Pub Draught Guinness in the U.S.
Guinness Brewing Worldwide reports "satisfactory year."
Diageo profits rise.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters