Asahi: Peroni and London Pride brewer slips further into the red
Japanese beer maker Asahi, whose brands also include Peroni, saw its UK division slip further into the red during its latest financial year.
The London-headquartered arm posted a pre-tax loss of £14m for 2023, having also lost £6.3m in the prior 12 months.
Asahi UK last reported a pre-tax profit when it achieved a total of £11.9m in 2021.
However, newly-filed accounts with Companies House also showed that its revenue increased in the year from £512.2m to £527.1m.
As well as Asahi and Peroni, the group owns Fuller’s Brewery whose brands include London Pride. It also owns the likes of Grolsch.
Fuller’s Brewery is the former brewing division of London-listed Fuller, Smith & Turner.
Asahi aiming to grow UK market share
A statement signed off by the board said: “The company will continue to manufacture, distribute and sell its range of quality beers and ciders brewed at its locations in the United Kingdom and provide a full portfolio of drink products to its customers.
“The company’s strategic priority is to grow market share within the UK through its portfolio of premium domestic and international alcoholic and non-alcoholic drinks.”
During the year the average number of people employed by Asahi UK fell from 588 to 554.
Asahi has owned Fuller’s Brewery after Fuller, Smith & Turner accepted a £250m offer at the start of 2019.
The deal included the Griffin brewery, its “spiritual home” in west London, which is now where Asahi’s UK division is registered.
It also saw Fuller’s other drinks operations – Cornish Orchards, Dark Star Brewing and Nectar Imports – transfer to Asahi.
Asahi has owned Peroni and Grolsch after buying the brands from AB Inbev in 2016 for £2bn.
Morning Wire recently reported that AB Inbev itself continued to make a substantial loss during its latest financial year despite raising its prices.
The London-headquartered division has not made a pre-tax profit since the £40.9m it reported in 2020.