UK: Q3 volumes set fair for Blavod Extreme Spirits
Blavod Extreme Spirits has seen sales volumes rise in the final quarter of last year.
The company said yesterday (8 January) that volumes in the three months to the end of December were up by 18% on the corresponding period a year earlier. For the first nine months of its current financial year, Blavod said volumes are up by 27% year-on-year.
While case sales of flagship brand Blavod Black Vodka were up 21% in the quarter, travel retail continued to provide "the strongest growth driver" for the brand.
Margins and overheads in the UK business are expected to remain at levels similar to last year, Blavod noted.
"The board expects the current trends to continue in the remaining three months of the fiscal year," the company concluded in the trading update.
In October last year, Blavod posted a lift in full-year losses for the 12 months to the end of March. Operational losses for the period grew to GBP6.1m (US$12.4m) from GBP2.5m in the corresponding period a year earlier, while sales were up by 29% to GBP6.9m. The company blamed "difficult" market trends in the US and limited finance for brand promotion for the disappointing showing.
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