b'COOPERS ANNUAL REPORT 2023Brewing ProductsMORGANSSales volumes for Morgans fell in line with industry trends, continuing its retreat from pandemic-related highs. Net sales revenue was 7.7% lower compared to the previous year, with the core beer kit category down 12.4%.The diversified Morgans product range remains ready to take advantage of future market changes and cost of living pressures while additional warehouse racking was installed to deliver an extra 400 pallet spaces in the Yatala facility.MR BEERSales of Mr Beer struggled in challenging market conditions. Despite inflation and cost of living concerns in the United States, consumers continue to venture out of their homes and socialise post-pandemic. This trend, and ongoing higher freight cost pressures, contributed to a reduced demand for Mr Beer kits and other brewing products.While some positive recovery signs began to emerge in Canada in the latter half, overall sales fell 24% over the financial year.MALT EXTRACTSales volumes of Coopers malt extract were 12.2% lower on the previous year, weighed down by sluggish exports.Recording a 7.4% drop, domestic sales were somewhat depressed, while exports fell 33% as key customerspredominantly food producerschose to run down existing stock levels.However, some positive signs of a rebound in exports began to emerge in the second half of the financial year.33'