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14/09/2010
Pub Trade In 'Meltdown' Says Industry
The group representing Ireland's drinks trade has said the industry is in "meltdown" after recent figures showed a 14% decline in sales.
Commenting on the release of its mid-year market figures, the Drinks Industry Group of Ireland (DIGI) said the industry was suffering a 14.1% decline in the first seven months of 2010 due to the "weak economic environment".
DIGI Secretary and CEO of the Licensed Vintners Association, Donall O'Keeffe said: "The 14.1% decline in the value of pub sales in the first seven months of 2010 comes on top of an 8.8% decline in 2009. Of particular concern are the ongoing prospects of weak consumer demand for the immediate future and the ongoing cost pressure being generated by Government-related costs such as commercial rates and regulation. As a consequence, the sector is in a crisis situation."
DIGI said it wanted to work with the Government to identify further stimulus measures in this December's Budget to boost the employment-intensive hospitality industry in order to prevent closures and save jobs.
Speaking this morning, DIGI Chairman, Kieran Tobin, said that last year DIGI consistently pointed out that Ireland's high levels of alcohol taxation was a key reason why many consumers were opting to travel to Northern Ireland to do their shopping and called on the Government to address this by reducing excise.
He added that the Government's decision to agree led to an improvement in retail sales of alcohol, and wanted a similar response to the current problem.
Mr O'Keffe added: "In the short to medium term there is absolutely no sign of market conditions improving for the pub trade. Rather the likelihood is that current trends will continue forcing many publicans out of business and thousands of subsequent job losses."
(DW/BMcC)
Commenting on the release of its mid-year market figures, the Drinks Industry Group of Ireland (DIGI) said the industry was suffering a 14.1% decline in the first seven months of 2010 due to the "weak economic environment".
DIGI Secretary and CEO of the Licensed Vintners Association, Donall O'Keeffe said: "The 14.1% decline in the value of pub sales in the first seven months of 2010 comes on top of an 8.8% decline in 2009. Of particular concern are the ongoing prospects of weak consumer demand for the immediate future and the ongoing cost pressure being generated by Government-related costs such as commercial rates and regulation. As a consequence, the sector is in a crisis situation."
DIGI said it wanted to work with the Government to identify further stimulus measures in this December's Budget to boost the employment-intensive hospitality industry in order to prevent closures and save jobs.
Speaking this morning, DIGI Chairman, Kieran Tobin, said that last year DIGI consistently pointed out that Ireland's high levels of alcohol taxation was a key reason why many consumers were opting to travel to Northern Ireland to do their shopping and called on the Government to address this by reducing excise.
He added that the Government's decision to agree led to an improvement in retail sales of alcohol, and wanted a similar response to the current problem.
Mr O'Keffe added: "In the short to medium term there is absolutely no sign of market conditions improving for the pub trade. Rather the likelihood is that current trends will continue forcing many publicans out of business and thousands of subsequent job losses."
(DW/BMcC)
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