Question-and-Answer Session
Operator
(Operator Instructions) Our first question is from Judy Hong of Goldman Sachs. Your line is open.
Judy Hong - Goldman Sachs
Thanks. Good morning, everyone. My first question is on Canada and I was wondering if you could give us a little more color in terms of the industry volume trends. It looks like in the second quarter, the volume trend was actually pretty strong for the industry as a whole and then it sort of weakened in July, so I’m just wondering if you can give us a little bit more color in terms of what’s happening at the industry level.
And then it sounds like as you look out in the back half, you are trying to address your market share issue in Canada more broadly, and so I wanted to get a little more color there with respect to the promotional activity that you are seeing both within Quebec and outside of Quebec and as you think about the back half, whether I’m interpreting it correctly that you are thinking about stepping up promotions more actively.
Peter Swinburn
Well, I’ll pass it over to Dave in a minute, Judy, to take the detail but maybe sort of a general point -- we recognize, despite the fact that [our figures] are good and strong for the first half of the year, there’s some things we’ve got to do in all our markets. We need to get Miller Light moving in the direction we want it moving in the U.S. and that’s looking good at the moment but we’ve got much more work to do.
We recognize in the U.K., we’ve got to address the off-trade but we’ve built a really solid base for ourselves to do that and we are confident we can do it. And similarly in Canada, I think the issue there is that we really do need to offer our consumers more options in terms of value propositions, and we’ve got plans to do that and you’ll see more of that happening in the second half of the year. But with that as background, I’ll pass it on to Dave.
Dave Perkins
Thanks, Peter. So Judy, on the industry, you’ll remember in the first quarter it was down about 1.2% and then up 1.8 in the second quarter, so year-to-date is a half-a-point up and I think that’s probably a decent reflection. There’s noise in between the two quarters so I would tend to look at it on a year-to-date basis.
- To read the full transcript on Seeking Alpha, click here »
