Rémy Cointreau sales drop 16.4% in H1

French drinks group Rémy Cointreau saw sales fall 16.4% during the first half of its fiscal year due to the impact of the Covid-19 pandemic on duty free and on-trade sales. The Rémy Cointreau Group posted total sales of €430.8 million (US$508m) for the six-month period between April and September 2020, down by 16.4% on an organic basis compared with the same period in 2019. After reporting declines of 33.2% in the first quarter, the…

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LVMH shows signs of recovery in Q3

The wine and spirits business of LVMH saw a marked improvement in trends during its third quarter after significant losses in the second quarter of 2020. Organic revenue for wine and spirits fell by 3% in the three months to 30 September to €3.349 billion (US$3.9bn), markedly better than the 33% sales drop in the second quarter, and the 14% decline in the first quarter. Organic revenue for the first nine months of 2020 was…

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Canned cocktail sales to surpass $146bn by 2030

Global sales of canned cocktails are predicted to surpass US$146 billion over the next 10 years, according to a new report. The report from market research firm Fact MR said sales of RTD products will rise by a compound annual growth rate (CAGR) of 20% to 2030, when the value of sales in the sector is predicted to surpass US$146bn. The sector, which Fact MR says is currently worth US$20bn, will be boosted by increasing…

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Powerscourt appoints Sip & Savour as UK distributor

Ireland’s Powerscourt Distillery has appointed distributor Sip & Savour to launch its Fercullen Irish whiskey range in the UK. Powerscourt will launch its Fercullen 14 and 18-year-old single malts, 10-year-old single grain and eight-year-old Irish whiskey in the UK through Sip & Savour. Jamie Walker, managing director of Sip & Savour, said: “We are delighted to be teaming up with Powerscourt Distillery to launch Fercullen Irish whiskey in Britain. We are confident our unrivalled track…

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Amber Beverage Group reports ‘strong’ H1

Luxembourg-based Amber Beverage Group saw its earnings rise 8% in the first six months of 2020 due to the implementation of “effective” cost management measures amid the pandemic. Despite “challenges resulting from the Covid-19 pandemic”, Rooster Rojo Tequila maker Amber Beverage Group (ABG) reported its earnings before interest, taxes, depreciation and amortisation (EBITDA) had grown 8%. The firm said it had “outperformed” its sales forecasts in the majority of its markets. Jekaterina Stuģe, CFO at…

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