Currency impacts Lucas Bols FY sales
- Full-year sales slip by 1.3% to EUR77.7m (US$84m)
- Falling Yen and Rouble impact sales in 12 months to end of March
- Company expects 5% FY organic operating profit growth
Lucas Bols issued a full-year trading update earlier this year
Dutch spirits business Lucas Bols has recorded a slight decline in full-year sales, hit by currency fluctuations and pricing changes in the US.
The company, which listed on the Euronext Amsterdam exchange in early February, said currencies had a negative impact of EUR0.6m on the top line in the 12 months to the end of March. Revenues in Western Europe fell 1.9% despite growth in Scandinavia and Italy, with "challenging" retail conditions in the UK and Belgium.
The declining Yen sent Asia Pacific revenues down 3.6% to EUR17.6m, thanks to weak market conditions in South-East Asia, partially offset by strong performances in Japan and China.
Revenues in North America rose 0.9% to EUR14.4m, with 6% revenue growth in the second half following pricing changes earlier in the year, linked to the transfer of Bols liqueurs’ distribution to a wholly-owned subsidiary.
Emerging markets were up 2% to EUR10m and recorded double-digit growth, except for Russia, with strong growth in Latin America and Africa.
Bols said its global brands had recorded revenues of EUR53.9m, flat on an organic basis, adding that full results for the year would be announced on 24 June.
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