Distell FY sales hit by South Africa alcohol ban

South African drinks group Distell saw its fiscal 2020 revenue fall by 14.6% due to the alcohol ban in its home market. In the year ending 30 June 2020, the Amarula cream liqueur and Bunnahabhain Scotch whisky owner saw its revenue fall 14.6% to 22.37 billion rand (US$1.33bn). Distell CEO Richard Rushton said: “The resilience of our business and culture was severely tested during the pandemic and I’m proud of the way we are responding.…

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Diageo reports 47.1% profit loss in fiscal 2020

Johnnie Walker owner Diageo saw operating profit decline 47.1% in its 2020 fiscal year due to the impact of Covid-19 on its key markets. For the year ending 30 June 2020, Diageo’s reported operating profit declined by 47.1% to £2.1 billion (US$2.7bn). Organic net sales fell by 8.4% to £11.8bn (US$15.4bn). The group also noted a non-cash impairment charge of £1.3bn (US$1.7bn), related to its businesses in India, Nigeria, Ethiopia and the Windsor whisky brand…

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Diageo ditches fiscal 2020 guidance amid covid-19 crisis

Johnnie Walker owner Diageo has withdrawn its guidance on net sales and operating profit for fiscal 2020 due to “uncertainty” over how the pandemic has hit the group. On 26 February, Diageo said in a trading update that the coronavirus outbreak is expected to drag full-year 2020 profits down by up to £200 million (US$260m). The group also predicted its organic net sales will drop by between £225m and £325m (US$290m and US$420m). The update…

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Constellation’s wine and spirits FY sales drop 6%

US drinks group Constellation Brands reported a 6.4% net sales decline for its wine and spirits business in fiscal 2020. In the year ending 29 February 2020, Constellation Brands’ net sales were up 3% to US$8.34 billion. Net sales of wine and spirits reached US$2.72 billion during fiscal 2020, while wine and spirit sales for the three months ending 29 February 2020 grew 1.2% to US$715.4 million. In the financial update, Constellation Brands released its…

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Woodford Reserve smashes one-million-case mark

Brown-Forman reported flat net sales for its third quarter, however the group’s Woodford Reserve Bourbon has passed the one-million-case sales mark for the first time. In the company’s third quarter ending 31 January 2020, net sales grew 3% to US$899 million. Reported operating income fell 5% to US$304m. For the first nine months of fiscal 2020, the company’s reported net sales increased by 3% to US$2.7 billion and reported operating income dropped 1% year to…

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