Kopparberg significantly cuts UK loss despite sales dip for cider brand
The UK arm of cider brand Kopparberg significant cut its pre-tax loss during its latest financial year.
The Leeds-headquartered division has reported a loss of £244,919 for 2023, according to newly-filed accounts with Companies House.
That comes after Kopparberg posted a pre-tax loss of £2m in 2022.
The last time the division made a pre-tax profit was the £3.1m it achieved in 2021.
The new results also show that Kopparberg’s turnover dipped from £154.1m to £151.1m in 2023.
A statement signed off by the board said: “The directors continue to explore and develop opportunities to further develop the Kopparberg brand in the United Kingdom.?
No dividend was paid in the year, having handed out £2.5m in 2022.
Kopparberg is headquartered in Sweden and is the country’s largest brewing company.
The UK results come after Budweiser signed a deal to distribute Kopparberg across the country from the end of May this year.
According to figures released at the time, Kopparberg has a market share of just over 18 per cent in the UK.
The deal with Kopparberg came a few weeks before Budweiser signed a similar deal with San Miguel.
City PM recently reported that Heineken’s biggest-ever price rises in the UK failed to stop its profit being slashed during its latest financial year as it battled “economic volatility”.
The Edinburgh-based division raised its prices in 2023 as it faced “significant inflationary pressure on input costs”, reducing consumer spending, higher labour costs and rising energy bills.
According to recently-filed results, Heineken UK’s pre-tax profit was cut from £165m to £106m in 2023 while its revenue increased from £2.3bn to £2.4bn.
The division also makes and sells brands such as Birra Moretti, Desperados, Foster’s, Amstel, Inch’s, Old Mout and Strongbow as well as Beavertown.