By Andy Young

The Heineken Lion joint-venture in Australia has registered an increase in its sales, but a fall in its net profit for the 12 months ended September 30, 2015.

In documents lodged with the corporate regulator, the JV’s net profit for the year was $10.5 million, down from $12.5m for the year before. The sales for the year were up by 2.5 per cent to $67.4m for the same period, ending 30 September last year.

Under the agreement of the joint venture Lion, which produces XXXX, Tooheys and Hahn, also brews Heineken under licence in Australia. Heineken Lion has been operating in Australia since 2004.

The JV’s pre-tax profit in Australia was $15.1m, down from $18m the year before. Heineken Lion paid $4.6m in income tax in 2014-15, down from $5.49m the previous year. The documents also showed that the local JV paid total dividends of $11m to the parent entity in the financial year to 30 September 2015.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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