Australian brewer Lion Nathan has announced volume growth for the first quarter of 2010.
The company released its financial figures for the three months ending December 31st, describing its performance as “solid”.
Lion Nathan’s power brands saw revenue growth of eight per cent and volume growth of 2.9 per cent, which it claims shows “the resilience of the Australian beer market in all economic circumstances”.
Within the country, the company’s XXXX Gold brand continued to perform well, as did Hahn Super Dry.
The performance in New Zealand was not as strong, with volume growth of just 0.4 per cent and revenue growth of 2.9 per cent.
According to Lion Nathan, this is due to poor trading conditions across the entire New Zealand beer market, which contracted by five per cent.
“Recent innovations Steinlager Edge, Speights Traverse and Mac’s Issacs Cider performed very well [in New Zealand] thoughout the summer,” the company added.
Lion Nathan has around a 44 per cent share of the Australian beer market and a share of more than 50 per cent in the New Zealand market.