Scottish & Newcastle has warned there will be a “substantial” increase in the price of its products because of spiralling input costs.

Releasing its full-year results this morning, the brewer, behind brands such as Kronenbourg 1664, Foster's and Newcastle Brown Ale, said: “While we forsee a rise of 8.5% in input costs, we expect to mitigate this through substantial price increases combined with cost reduction plans.”

Pre-tax profit for the year to 31 December was flat at £444m but revenue rose 7.9% to £4.15bn.

Last month, S&N was bought by Carlsberg and Heineken in a deal valuing the brewer at £7.8bn.

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