ESTONIA: AS Liviko net profits rise in '08
Estonia-based spirits company AS Liviko has reported a 42% lift in net profits for 2008.
Profits for the year reached EEK71.8m (US$6.4m), compared to EEK50m in 2007, AS Liviko said today (23 June).
The group also confirmed that net sales for 2008 rose by nearly 32% to reach EEK1.84bn.
"Notwithstanding the general recession in Baltic countries and a 15% decline in local alcohol markets, companies of AS Liviko Group have managed to remarkably expand their market share in Estonia, Latvia and Lithuania," said group chairman Janek Kalvi.
Sales and profits were boosted by growth in exports to neighbouring countries and by sales of imported quality brands, Liviko said.
Top performing export brands were Vana Tallinn liquor and Viru Valge vodka, which saw export sales rises of 13% and 5% respectively.
The Baltic countries have had it tougher than most in the global economic downturn, suffering double digit falls in gross domestic product. But the turmoil has not dented the ambition of Estonia-based...
Jack Daniel's whiskey owner Brown-Forman lifted its full-year profits guidance on Tuesday (8 December), exceeding expectations and moving analysts to raise their fair value estimate on the firm. Miche...
Blavod Wines & Spirits has reported strong sales growth in the first half of its fiscal year, but said profits were held back by a poor performance from its Black Vodka brand....
Belvédère, the troubled French drinks group, has suffered a setback in its recovery plan....
Pernod Ricard has appointed Tim Murphy as its vice president of marketing and innovation in the US, while Jonas Renner Tahlin will replace him as vice president of vodka marketing in the country....
Diageo has combined its marketing and innovation teams in North America under the leadership of current innovation team head Peter McDonough....
A television advert for Diageo's Smirnoff vodka brand has escaped a ban in the UK following complaints to the country's advertising watchdog....
Price pressure is growing more intense on the US spirits market, Brown-Forman has warned, despite posting a rise in half-year profits....
- Why Scotch must drop the 'malts good, blends bad'
- Pernod's mood darkens over India - Analysis
- Does alcohol accelerate the onset of dementia?
- Cognac is back - is Remy Cointreau ready?
- Soft drinks is losing the recycling game
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Scotch sales set to soar, despite recent struggles
- Pernod Ricard posts solid YTD sales jump - results
- Pernod Ricard YTD fiscal-2017 sales performance
- Cognac needs innovation at bottom end - Pernod
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Flavoured Powder Drinks in 2017: Confronting an Ageing World