san miguel

Spanish lager giant Mahou San Miguel has posted “record-breaking” full-year results, driven by strong performance in the UK.

The brewer saw total UK volume increase 9% over the year ending 31 December 2016, with sales of its San Miguel lager topping one million hectolitres.

Global revenues grew 3.6% to €1.22bn in 2016, while operating profits stood at €264.9m, up 2% year on year. Total volume sales grew 3.9%, encompassing 16.1 million hectolitres of beer and 2.6 million hectolitres of water and soft drinks.

The San Miguel owner attributed much of its success to the brand’s relaunch in 2015, which it claimed “built strong loyalty from UK beer drinkers”.

“The company has developed a strong distribution network of more than 25,000 taps in the on-trade and 98% availability in the off-trade,” it said.

“The portfolio is well positioned in the growing UK premium beer sector, which is the largest and best-performing market in Europe. Though overall beer volume sales are decreasing, the market is driven by value from both world lagers and craft beers.”

The San Miguel revamp had highlighted the brand’s “premium” credentials, while launch of new non-alcoholic brew San Miguel 0.0% had further bolstered UK sales over the year, added MD Erik d’Auchamp.