Beverage (alcoholic) industry

The alcoholic beverage industry faces a different set of challenges in 1996 than what it faced in 1995. Increased beer prices and lower packaging prices are positives for brewing companies, but consumer demand is difficult to forecast. Germany and Japan will also be difficult markets, especially for distillers. These stocks will underperform the market in the next six to 12 months, but there is three to five year potential in the overseas market.