Eastern Europe: Affordability ‘biggest barrier’ to recruiting new drinkers

For all the political chill in the air, Russian demand for international spirits appears to be undimmed, and Poland is positively thriving. *This feature was originally published in the April 2019 issue of The Spirits Business Five years into the new Cold War, precipitated by Russia’s annexation of Crimea in 2014, and there’s little sign of a thaw on the political front. Yet for all the sanctions and threats of boycotts, the market for western…

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Stock Spirits shareholder calls for chairman’s removal

Shareholder Western Gate has called for the removal of Stock Spirits’ chairman and senior independent director over concerns regarding “significant shareholder value destruction”. Western Gate – which owns a 10% stake in Stock Spirits, making it the company’s biggest shareholder – has said it will vote against the re-election of chairman David Maloney and senior independent director John Nicolson at the upcoming AGM (annual general meeting). The investor argued that the board needs a “new…

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Premium brands boost revenue for Stock Spirits

Central and Eastern European drinks group Stock Spirits has reported a revenue increase of 8.7% to €282.4 million (US$320.1m) for 2018, bolstered by “solid” growth in Poland. The spirits and liqueurs producer has reported pro-forma 12-month results in order to account for a move in its financial year to end in September. Stock Spirits stated adjusted underlying earnings (EBITDA) for the year to 30 September 2018 of €59.4m (US$67.3m) – an increase of 11.5% compared to…

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