UK: Glenmorangie brands drive H1 profit growth
Glenmorangie, the Scotch whisky distiller today reported a 20% jump in first half turnover to £37.89m, leading to an increase in pre-tax profits of 19% to £5.01m. the company cited good growth in its key brands for the performance.
Earnings per 'A' Ordinary Share increased by 10% from 21.45p per share to 23.70p per share. Earnings per 'B' Ordinary Share increased by 11% from 10.63p per share to 11.80p per share.
Paul Neep, chief executive, said:"We have made good progress against all our strategic objectives. We are delighted with the strong performance of our premium malt brands which have benefited from continuous long-term investment.
In July, the Macdonald Family and associated Trusts, who together hold a controlling stake in Glenmorangie decided to sell their total shareholdings, thus triggering a sale of the entire group. On 20th October 2004 the board announced Moët Hennessy, the wine and spirits group of Louis Vuitton Moët Hennessy ('LVMH'), would acquire the business at a price of £300m.
"We believe this offer represents excellent value for all shareholders and provides the Group and the brands with a strong future within the LVMH family," a statement said today.
Total cased sales grew 30% reflecting strong growth of the company's premium malt brands and blended Scotch whisky volumes. Total overall branded malt sales grew 16%, with Glenmorangie, Ardbeg and Glen Moray up 11%, 27% and 52% respectively versus the same period last year.
Available from just-drinks' research store now is the "Global market review of Champagne." The review not only looks at markets around the world, but also gives profiles of the main players in the sec...
LVMH Moet Hennessy Louis Vuitton has distanced itself from the bidding for Lanson International, just-drinks understands....
Louis Vuitton Moet Hennessy (LVMH) has entered the running for a stake in Lanson International, according to press reports....
Revenue at LVMH Moet Hennessy Louis Vuitton reached €9.598bn for the first nine months of 2005, representing 12% organic growth from the corresponding period last year, the French drinks and luxury go...
LVMH Moet Hennessy Louis Vuitton has posted an 11% rise in profit from recurring operations for the first half of 2005, from €982m to €1.09bn....
Brown-Forman and LVMH Moet Hennessy Louis Vuitton have concluded the contracts through which Brown-Forman acts as the US importer of the Glenmorangie brands....
LVMH Moet Hennessy Louis Vuitton, the world's leading luxury products group,has reported consolidated sales of €6,173m in the first half of 2005, reflecting an increase in organic sales of 12% compar...
Brown-Forman has reported earnings growth of 21% for its fiscal year to 30 April....
- Are we about to see a no-alcohol Heineken?
- American whiskey does a vodka - Analysis
- A-B InBev's Global Presence - just The Facts
- Concha y Toro's H1 performance - Focus
- A-B InBev in China - just the Facts
- Diageo readies "not quite as sincere" Scotch
- Craft more about stories than M&A for Diageo
- The Glenlivet leapfrogs Glenfiddich
- Heineken integrates cider and beer
- “New normal” sees Pernod target premium in China
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Pernod Ricard SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Vodka Market 2015-2019