NASSAU, BAHAMAS- Commonwealth Brewery saw a near two percent revenue decline last year, which it attributes to a post-COVID dip in consumer shopping behavior.
In its Q4 2024 financials, the BISX-listed brewer reported a 0.8 percent increase in revenue for the quarter compared to the same period last year. However, for the full year, revenue decreased by 1.9 percent as consumer spending habits softened following the post-COVID boom of 2023.
Despite the annual decline, the company celebrated key successes, including the launch of the new Radler variant Kalik Lychee and the revitalization of the Ron Ricardo RTD flavors, which helped drive revenue growth in the final quarter.
CBL noted that it is also focused on optimizing its product mix and controlling costs, achieving a nine percent reduction in operating expenses for the quarter and a 3.6 percent improvement for the year. These efforts reflect the company’s commitment to operational efficiency and profitability.
The company emphasized that it is focused on driving future growth through new product offerings and effective cost management while continuing to excite consumers in the Beer, Spirits, and Wine categories.
