UK: Glenmorangie first half figures up
The Scotch whisky producer Glenmorangie has announced a rise in sales and net profit despite a drop in whisky shipments to the UK.
The distiller posted a rise in total cased sales for the first-half to September of 2% to £23.4m (US$39.7m) while total group sales climbed by £1m to £31.6m. Pre-tax profit increased by 12% to $4.22m from £3.76m year-on-year.
Shipments to the UK fell by 13% but were offset by a leap in shipments to the US by 41%. The company attributed the drop in the UK to the timing of the shipments, and said that demand remained strong.
Glenmorangie, which manufactures Glenmorangie Highland malt, Glen Moray Speyside malt and Ardbeg Islay malt, expects further gains in the future following distribution deals with Brown-Forman in the US and Bacardi-Martini in Europe.
Company chief executive Paul Neep told the Financial Times: "In a rapidly consolidating industry our partnership with two major companies will help us build our brands in the long term. Meanwhile, margins are up, profits are up, gearing is down and the dividend is up - a nice combination."
Glenmorangie said it is now challenging for leadership in the UK market, in the single malt category.
With 10% growth of its Glenmorangie single malt whisky, the distiller is now vying for first place with Glenfiddich. Both currently hold 19% market share.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
As the US distillers' association, Discus, for the first time in its history publishes its annual report into spirits advertising, which includes complaints against its self-regulatory code, David Rob...
Bacardi has unveiled the identity of its new CEO and president....
The chairman and chief executive of Bacardi International Ltd. is to retire, according to press reports....
Bacardi Limited and The Glenmorangie Company have said their UK and European distribution agreements will come to an end on 30th June 2005. Moet Hennessy, which acquired The Glenmorangie Company at th...
Brown-Forman Beverages has replaced Bacardi as its spirits distributor in Canada....
Samuel Adams Brewery has secured a production deal with Brown-Forman....
Bacardi USA., Inc. has appointed Sex and the City actress Kim Cattrall as the celebrity spokeswoman for its new FAB, Island Breeze....
- Remy, dead cats and the power of China's new year
- Focus - Remy Cointreau's YTD Performance by Brand
- Will Lucas Bols' IPO Bring Much Needed Stability?
- A Dangerous World and the Threat to Beverages
- Price drops would damage our DNA - Remy Cointreau
- Moët Hennessy unveils first Travel Retail outlet
- Pernod unveils Jameson bottle for St Patrick's Day
- Maxxium UK head to depart for Edrington role
- Remy eases declines as China hints at recovery
- SABMiller beer volumes fall as China holds back Q3
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- just-drinks on-trend: Craft beer - fortunes and future
- The Sugar Backlash and its Effects on Global Consumer Markets