Coopers Brewery, Australia’s largest family-owned brewery, reported a decline in profits for the 2024-25 financial year. The profit drop was attributed partly to the financing and start-up expenses associated with a $70 million investment in a new visitor centre, restaurant, microbrewery, and whisky distillery at its Adelaide headquarters. Coopers is best known for its pale ale and sparking ale products, and was founded in 1862.
For the 12 months ending June 30, sales revenue saw a slight increase to $309 million, up from $308 million in the previous year. However, net profit after tax decreased to $15.3 million, compared to $22.9 million the year before. Despite the profit dip, Coopers managed to increase its beer volumes by 2.3 per cent, reaching 80.6 million litres, in a declining overall beer market.
Michael Shearer, who became managing director in March, succeeding Tim Cooper after 23 years, acknowledged the challenging market conditions. Shearer noted that while the costs associated with the new facilities impacted the overall results, the new venue attracted 60,000 visitors in the past year, including 32,000 restaurant patrons. Sales of Coopers Dry 3.5, a low-carb option, increased 60 per cent.
As a result of the reduced profit, Coopers’ 216 shareholders, primarily members of the extended Cooper family, will receive a lower dividend of $11.25 per share, down from $12.
