US: Drinks Americas sales down, losses narrow in FY
Drinks Americas has continued its loss-shrinking, sales slowing trend in its latest full-year.
The alcoholic drinks owner, developer and marketer said yesterday (5 August) that net loss for the year to the end of April was US$6.3m compared to a net loss of $9.4m a year earlier. The narrowing of losses occurred despite a marked slide in sales for the year, down to $4.5m from $6.1m in fiscal year 2007.
In the fourth quarter, the launch of Trump Flavored Vodka and Trump Vodka international sales, both of which took place in February, led to sales in the three-month period rise by 40% year-on-year to $1.2m.
"Our strategy of creating premium branded beverages in partnership with icons continues to prove its foresight and long term viability, with great brand value creation enhanced by reduced capital requirements and favourable production and supply contracts," said company CEO, Patrick Kenny. "We have demonstrated that we can place quality brands in the market quicker and more cost effectively, with instant brand recognition, on a domestic and international basis, leading to accelerated sales. This, in conjunction with great product and beautiful packaging, will assure our future."
Going forward, Drinks Americas has lined up a new line of 80-proof flavoured and unflavoured sparkling vodkas, as part of its joint venture with Interscope/Dre/Aftermath. The as-yet unnamed vodka brand will begin shipping in the next two months, and will be introduced in coordination with the launch of Dr. Dre's 'Detox' album. Last June, Drinks Americas entered into a partnership agreement with Interscope Geffen A&M, part of Universal Music Group.
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