Good Drinks Australia (GDA) says its 3Q24 results shows the company has the scale, capability, and agility to navigate the difficult trading conditions currently impacting the beer industry.
Its year-to-date own-brand growth was nine per cent compared to the overall beer market category decline of -4.4 per cent. Partner brands had four per cent total volume growth on prior corresponding year (pcp). GDA’s partner brands – Miller Chill, Coors, Magners – have also given the brewer the ability to scale considerably.
The company said the results were particularly encouraging as they validated the ongoing strategy to invest in its brands and to grow GDA’s overall market share through ongoing sales and marketing expenditure.
“Our platform is now demonstrating that it has the scale, capability, and agility to navigate these difficult trading conditions which are categorised by lower discretionary consumer spending, driven by inflationary pressures and interest rate rises,” it said.
GDA’s own-brand growth in Queensland was up 19 per cent pcp.
“We are well-placed to capitalise in this new macro-economic environment as our platform utilises our in-demand brand portfolio to outperform the competition, GDA now has the enviable position in the market between the smaller “single brand”-dependent and often undercapitalised craft brewers, and the much larger “legacy brand”-dependent multinationals which are experiencing strong decline.
“The Matso’s brand in particular has in recent years grown strongly on the back of considerable consumer demand in the Ginger Beer category,” the company said in a statement.
It also reported strong earnings and cashflows for its hospitality businesses – Gage Roads Freo and Matso's Sunshine Coast.
