Patrick Stokes
Patrick Stokes
advantages barrel beer confident cost domestic growth high key leadership markets momentum number per position positions price process profit reduction restored restoring revenue stability strategic volume
We have restored the volume growth momentum of our domestic beer company. We are in the process of restoring revenue per barrel growth through the implementation of our 2006 price plan, and are working to restore cost stability through a number of cost reduction programs. With our substantial leadership position and competitive advantages in domestic beer and our important strategic positions in key high growth markets internationally, we are confident we will restore our profit growth in 2006(1) and beyond.
ability achieve annual average confident earnings growth per percent remain share target
We remain confident in our ability to consistently achieve annual double-digit earnings per share growth over the long-term, with a 12 percent average annualized target through 2004,
beer domestic growth momentum restored volume
We have restored the volume growth momentum of our domestic beer company.
beer business domestic earnings encouraged enhance market move per progress sales share volume year
We've had a challenging year in the domestic beer business and our 2005 sales and earnings per share were disappointing. However, as we move into 2006 we are encouraged with the progress of the company's initiatives to enhance beer volume and market share growth.
beer both company consumer cost declines domestic earnings encouraged improvement industry market performance sales share volume
We are disappointed in our sales and earnings results, but we are encouraged by improvement in our market share performance at the consumer level. Both the company and the domestic beer industry have experienced volume declines and significant cost pressures.
beer domestic growth number restored sales volume
Through a number of sales initiatives, we have restored our domestic beer volume growth momentum.
beer cost costs domestic early enhance growth increase last lesser moderate number pressures price reduce restored sales volume year
Through a number of sales initiatives we have restored our domestic beer volume growth momentum, and we successfully implemented a moderate price increase early this year. The cost pressures we experienced last year continue, but at a lesser rate, and we have implemented a number of initiatives to reduce costs and enhance productivity.