Lucas Bols forecasts FY sales dip
Lucas Bols recently held its first Capital Markets day
Spirits and liqueurs producer Lucas Bols has said 2015/16 full year sales are expected to come in 4-6% lower than the previous year.
At a Capital Markets update last week, the company blamed one-off stock reductions in the US, Australia and South East Asia for the anticipated decline. Currency headwinds and macroeconomic uncertainty also affected performance. The company's financial year ends on 31 March.
Operating profit is expected to come in 8-9% lower but net profit is set to increase, thanks to an IPO, launched last January, the company said.
"Although we experience a negative impact on our revenue on the short term, we remain confident in our mid-term outlook of 3-4% annual growth on average for our global brands," said Huub van Doorne, CEO for Lucas Bols. "The investments behind our brands and in our commercial organisation will contribute to the mid-term growth of our global brands and the continued stabilisation of the regional brands."
Van Doorne also announced several new products, including Bols Pink Grapefruit, Bols Pear and Bols Ginger.
The Netherlands Spirits market is led by the Whiskey category in both value and volume terms. The Whiskey category is also forecast to witness the fastest growth in both value and volume terms during ...
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