UK: Allied Domecq Announce Promising Results
Glancing at the latest six months figures, profits from its spirits and wine division up 9% (£207m to £225m); the overall group's profits up 16%; and Allied's finance director, Graham Hetherington's startling news that "for the first time, the international QSR (quick service restaurants) business has traded without any losses".
The only hiccup has been the agave crisis which has ravaged the Tequila market and hit one of the company's core brands Sauza. The brand, and Giro, Allied's lower grade Tequila, has fallen back 12% and could drop further because of supply problems. "To put it in perspective," said Bowman, "this time last year agave was one peso per kilo, today it is eight pesos a kilo, a rise of 800%. No one can forecast where the market will go next."
Allied's food and QSR business is also bucking the industry trend for food businesses. Trading profit is up 58% and the international business has turned round a loss of £5m to break-even, and the US rose from £17m to £19m. Dunkin' Donuts and Baskins-Robbins have been revitalised by new advertising campaigns in the US, and the ice-cream stores have accelerated through a new rationalisation programme focusing on key brands in key markets.
Further analysis is available here
Companies: Allied Domecq
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Cautious optimism is probably the best way to describe today's press reaction to Pernod's friendly bid for Allied Domecq....
Spirits firm Allied Domecq has agreed to a takeover bid from smaller rival Pernod Ricard, subject to agreement from Allied shareholders....
Allied Domecq last night accepted Pernod Ricard's offer to buy the UK-based drinks giant....
Allied Domecq today delivered a 7% increase in first half group profits before tax to £285m. Earnings per share were up 7% to 19.2p, turnover that was flat at £1,700m....
Drinks producer and distributor Todhunter International has said that its controlling shareholder, CL Financial, is interested in acquiring some of the brands of Allied Domecq that may become availabl...
Pernod Ricard has had its rating raised....
Allied Domecq has added a new flavour to its Malibu range. The company said yesterday that it would be launching Malibu Passion Fruit in the US from April 15....
- Brown-Forman's march on premium whisk(e)y -Comment
- Are consumers getting tired of consuming?
- Where does AB InBev see the future of beer?
- SABMiller in Cent'l & E Europe - What is for sale?
- Interview - Harviestoun Brewery MD Toby Knowles
- Brown-Forman to buy BenRiach Distillery Co
- Bacardi rolls out new global Martini ad - video
- Brown-Forman appoints new GTR marketing head
- Guinness Nigeria sees YTD sales, profits tumble
- Bacardi recruits ex-News International exec
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Emerging Drinks Industry Trends