SOUTH AFRICA: Distell interim figures up and down
While overall domestic sales volumes for all Distell products dropped by 1.6% for the six-month period to 31 December 2003, the group's figures for the rest of Africa were up 14.9% and its other international figures increased by 19.7%.
According to the interim figures released by chairman, David Nurek and MD Jan Scannell, late yesterday, sales volumes for wine on the international market were up 23.8%, but the impact of a strong Rand dragged sales revenue down by 9.9%.
This unfavourable of the improvement in the value of the Rand on margins largely negated growth in trading income, which increased by only 0.4%.
Distell was, however, optimistic about prospects for the international market, which it saw as key to the group's medium and long-term growth.
"We have set our sights on becoming a leading "New World" wine player, and aim to achieve wine sales in excess of 30 million litres by 2006," said Scannell.
Overall sales revenue grew by 8.5% even though sales volumes remained constant.
Recently published research indicates that while consumers have taken to the clear and modern marketing techniques employed by New World producers, they still cherish the romance and mystique of wine,...
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Napa Valley's Cosentino Signature Wineries plans to raise US$30m by listing on London's AIM market this month....
UK off-licence retail group Unwins is planning to float its Phillips Newman subsidiary on the Aim stock market, and then plans to float itself on the Aim market, according to the Daily Telegraph....
Distell's broad-based black economic empowerment deal will cost about R870m (US$137m), but the new partners will be locked into an eight to 10 year agreement before any dividends are realised....
Distell today announced its broad-based transformation plans between a black economic empowerment group, certain employees and a corporate social investment trust (CSI Trust)....
Distell has appointed Don Gallow as its new director of international operations, in place of Etienne Heyns who left the company two weeks ago. ...
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