Poor weather a drag on Scottish & Newcastle

Shares in brewing group Scottish & Newcastle edged down as it warned first half UK operating profit will be lower, partly due to poor weather. It still aims to meet full year expectations, however.

Morningstar.co.uk Editors 3 July, 2007 | 12:02PM

In an update ahead of its interims on August 7, S&N says branded beer sales momentum continued over the period across the group despite challenging conditions in some of its markets.

For the UK it had already factored in a decline in beer sales against the boost received from the football World Cup last year. The recent poor weather, however, has exacerbated the decline, resulting in a hefty 5% drop in UK sales over the period. Despite this, all key brands - John Smith's, Foster's, Kronenbourg and San Miguel - have grown share in their respective markets.

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