INDIA: United Spirits FY profits slip, sales up
- FY net profits slip by 6.4% to INR3.21bn (US$58.8m)
- Net sales in 12 months to end of March rise by 12.3% to INR86.1bn
- Operating profits in the year increase by 5.3% to INR10.6bn
- Fourth quarter sales, profits up
United Spirits posted its FY results earlier today
United Spirits has reported a slight fall in full-year net profits, but grew sales by double-digits.
The company, part of the UB Group, said earlier today (16 May) that net profits in the 12 months to the end of March fell by 6.4% year-on-year, totalling INR3.21bn (US$58.8m). Net sales, however, held firm, rising by 12.3% to INR86.1bn, as operating profits were up by 5.3% to INR10.6bn.
Volumes in the 12 months were up 3% to 123.7m cases.
The company, which is in the process of selling a controlling stake to Diageo, said the move to premiumise its portfolio and move consumers "up the value chain" was paying off.
For the final quarter, net profits leapt by 460% to INR560m, as net sales rose by 11.3% to INR20.94bn. Operating profits were up 22% in the three-month period to INR2.17bn, while volumes rose by 4% to 31.4m cases. Profits in the quarter were boosted by a foreign exchange gain, the company said.
Shares in United Spirits on the Bombay Stock Exchange today closed up 0.44%.
To read the company's official results, click here.
The final death count of Typhoon Haiyan, which hit the Philippines last week, is still a long way from being known. The relief effort is well underway, however, and drinks companies are among those th...
Alcoholic Drinks in India industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2007-11, and forecast to 2016). The...
Wine in India industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2008-12, and forecast to 2017). The profile als...
Over the last 10 years RTD's as a category may not have grown at anywhere near the level it did between 1998 and 2003 but it has, nevertheless enjoyed steady global growth. This reality flies in the f...
Since the great recession of 2008/2009 Diageo has transformed itself, primarily through acquisition, from being overly focused on mature markets to a more balanced geographic split and if, as seems li...
- Diageo chief admits "tougher than expected" year
- just The Preview - Diageo's FY preliminaries
- Focus - Diageo's FY Performance by Region, Brand
- Will Diageo seize the day as "nadir" reached?
- Molson Coors CEO exit - Mega-Merger on hold?
- ASA bans Jägermeister TV ad
- Belvédère chairman to step down
- Diageo boosts exec committee
- Diageo silent over Shuijingfang writedown report
- Remy Cointreau names liqueurs & spirits CEO