Brown-Forman delivers mid-single-digit growth in H1

Jack Daniel’s owner Brown-Forman has reported a net sales increase of 5% to US$1.8 billion in the first six months of its 2020 fiscal year, boosted by Tequila and premium Bourbons. In the company’s six month period ending 31 October, operating income increased 1% in the quarter to US$600 million. Brown-Forman also reported its net sales for the second quarter, which were up 9% to US$989m. Operating income for the period increased 6% to US$352m.…

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United Spirits H1 hit by ‘consumption slowdown’

Diageo-controlled Indian drinks group United Spirits saw its 2019 first-half net sales grow by 7%, but was impacted by “broad-based consumption slowdown”. For the six months to 30 September 2019, United Spirits’ sales reached Rs. 4.2 million crores (US$59.8m). Sales were impacted by general elections in the first quarter and “consumption slowdown coupled with liquidity challenges in certain markets and temporary supply chain disruption” in the firm’s bottled-in-origin Scotch portfolio during the second quarter. United…

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Rémy Cointreau H1 ‘slightly below expectations’

French drinks group Rémy Cointreau saw its sales dip 0.6% to €523.9 million (US$585m) for the first half of its fiscal year due to the termination of distribution deals for a number of partner brands. In the six-month period between April and September 2019, the House of Rémy Martin was up 5.6% to €379.6m (US$423.9m). The group said its Cognac was affected by a drop in tourism in Hong Kong and “slower than anticipated stock…

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Altia H1 sales reach €165m

Finnish drinks group Altia saw its sales grow to €165 million (US$184m) in the six months to June 2019, boosted by a 4.7% increase in Q2. The Larsen Cognac maker saw its sales grow by 2.7% in H1 2019, while sales for the three months to June 2019 reached €91.2m (US$101m). Altia CEO Pekka Tennilä said: “We are pleased to see reported net sales growing by 2.7% to €165 million during the first half of…

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Revenue growth for LVMH wine and spirits arm in H1

The wine and spirits arm of LVMH recorded organic revenue growth of 6% in the first half of 2019, bolstered by the “solid growth” of Hennessy Cognac. Total LVMH revenue hit €25.1 billion (US$27.9bn) over the period, an increase of 15% with “strong growth” in Asia, the US and Europe, particularly in France. Profit for the period hit €5.2bn (US$5.7bn), an increase of 14%. Belvedere vodka owner LVMH saw its drinks revenue reach €2.48bn (US$2.7bn).…

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