Metaxa is looking to the new EU member states to boost its exports. The Greek brandy maker said yesterday (14 September) that the move is aimed to offset the decline in alcohol consumption in the mature European drinks market.

Metaxa saw its turnover in the fiscal year to 31 March dip to €30.6m (US$37.6m) from €31.2m a year earlier. Pre-tax profit edged up for the 12-month period to €9.3m from €8.6m. The Remy Cointreau-owned company said that it had a difficult start to the new financial year, although July and August saw significant sales rises.