Discerning drinkers lower Lion’s profits

The trend of more and more New Zealanders drinking quality over quantity has seen drinks giant Lion’s profits drop more than 20 per cent. Drinks giant Lion, which has 46 per cent of the New Zealand market, is making less money in the domestic market as alcohol drinkers opt for quality over quantity. Accounts for Lion filed to the Companies Office add to the picture of a declining booze industry, partly offset by a move to “premiumisation” and a push into new, healthy non-alcoholic drinks that was highlighted when its Japanese owner Kirin reported annual results last month.