Carib Brewery Reports Nearly $6 Million Profit

Carib Beer - The Beer Of The Caribbean!
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Carib Beer – The Beer Of The Caribbean!

Basseterre, Saint Kitts – Nevis
June 05, 2008 (CUOPM)

Carib Brewery (St. Kitts & Nevis) Limited is reporting an EC$5.8 million profit before tax for 2007, up EC$1.6 million compared to the previous year.

According to the Annual Report released at the company’s 48th Annual General Meeting, sales in 2007 increased by 10 percent to EC$30.3 million.

“Our increase in revenue was in part, the result of an increase in prices, the first the brewery has implemented in over 10 years. Price increases were required to help mitigate the effect of global increase in the price of raw materials, utilities and fuel for our plant,” said Chairman Andrew Sabga.

He said Carib Brewery (St. Kitts & Nevis) Limited made substantial investments to improve production efficiencies through the installation of a new pasteurizer and boiler resulting in considerable savings in utility costs and a 20 percent increase in bottling capacity.

In 2008 the local company will continue to invest in a new plant by installing a new refrigeration unit and malt handling system in order to further enhance its capacity and quality as it seeks new exports markets. Markets include Tortola, St. Maarten, Barbados and islands in the OECS.

Carib Brewery said it continues to build, nurture and foster links with the community in the two-island Federation and continues to support and sponsor programmes relating to the youth and communities. “Our interaction with stakeholders at large will continue and we commit to continuing our support through the sponsorship of sporting, educational, social and cultural activities throughout the country,” said Sabga in his report.

Carib Brewery (St. Kitts & Nevis) Limited is a major producer of beers, stouts, malts, and other beverages including Carib, Skol, Stag, Guinness, Mackeson, Royal, Giant Malt, Vita Malt, Smalta, Ting, Ginseng Up, Peardrella and Juicy Beverages.

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