FRANCE: Brizard buoys Belvedere figures

By just-drinks.com editorial team | 29 September 2006

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.

Sectors: Spirits

Companies: Marie Brizard