FRANCE: Brizard buoys Belvedere figures
French wine and spirits group Belvedere has seen first-half profits soar on the back of last year's acquisition of Marie Brizard.
The company today (29 September) posted operating profit of EUR14.2m (US$18m) for the six months to 30 June.
Belvedere reported profits of EUR3.5m in the corresponding period last year. Turnover this year leapt 45% to EUR338.5m, the company added.
Belvedere said the figures including contributions from Marie Brizard from 1 April this year. Last December, Belvedere paid UK private equity group Duke Street Capital around EUR320m for its 69.3% stake in French spirits group Marie Brizard.
Belvedere is part-owned by Caribbean conglomerate CL Financial, whose drinks interests also including Cognac producer Hine and Scotch whisky producer Burn Stewart.
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