Diageo predicts ‘strong recovery’ in fiscal 2021

Johnnie Walker maker Diageo expects to register organic operating profit growth of at least 14% in its 2021 fiscal year, and resumed its plan to return billions of pounds to shareholders. In a trading update today (12 May), Diageo said the operating profit prediction is ‘slightly ahead’ of organic net sales growth. In January this year, Diageo saw sales drop 4.5% in the second half of 2020. The company registered 1% organic growth during H1,…

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Becle Q1 sales boosted by RTDs

Jose Cuervo owner Becle reported a 37.7% net sales increase in the first quarter of 2021, bolstered by a triple-digit boost for ready-to-drink products. Mexican drinks group Becle saw net sales reach MXN$7.16 million pesos (US$359,000) for the first three months of this year. Volume climbed 43.4% to 4.8m nine-litre cases, and gross profit increased 42.9% to MXN$3.84m pesos (US$193,000). The group said sales were boosted by another ‘strong’ quarter in the US and Canada,…

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Glenturret sales drop 30% in 2020

Luxury goods company Lalique Group reported a 30% decline in sales for Glenturret whisky last year due to the coronavirus pandemic. In April 2019, Lalique Group paid £15.5 million (US$20.2m) for a 50% stake in Glenturret Scotch whisky as part of a joint venture with Swiss entrepreneur Hansjörg Wyss. The brand was previously owned by The Macallan maker Edrington. According to Lalique Group’s full-year sales, Glenturret’s sales fell to €1.3 million (US$1.56m) in 2020. The…

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LVMH wine and spirits sales soar in Q1

The wine and spirits arm of LVMH saw sales skyrocket during the first quarter of 2021, aided by a ‘strong rebound’ in China. The wine and spirits unit of luxury goods company LVMH saw organic revenue rise 36% in the first quarter of 2021 to reach €1,510 million (US$1,805m). Compared to the same period in 2019, this represented a 17% organic increase. LVMH said Hennessy Cognac saw volumes grow by 28% during the three-month period,…

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Constellation’s wine and spirits sales fall 7%

Svedka owner Constellation Brands saw full-year sales for its wine and spirits unit fall 7%, with a double-digit decline predicted for fiscal 2022. In the 12 months to February 2021, Constellation Brands’ wine and spirits business saw net sales reach US$2.54 billion, down from US$2.72bn year on year. Operating income fell 12% to US$622.4 million. In total, the company’s net sales rose 3% to US$8.6bn for fiscal 2021. The company’s biggest business, beer, increased net…

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