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UK: Blavod reports encouraging results despite tough start

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Blavod Black Vodka plc, the owner of the eponymous black vodka Blavod, has announced year end sales up 37% on the back of an increase in marketing. The company recorded a loss of £1.15m for the year compared to a loss of £1.32m last year.

In a statement the company said higher volumes were now leading to production efficiencies and cost reductions. It also said that the current year had got off to an encouraging start with April and May sales significantly higher than first quarter of last year.

Richard Ambler, chief executive, commented: "We are pleased that the growth in sales since last Autumn has continued into the current financial year."

Blavod chairman Allan Shiach said: "I am pleased to report a further increase in group turnover from the previous year and also that volume sales of Blavod rose by a third. This is a most satisfying outcome after the disappointing start to the year reported in our interim results."

Duty Free sales increased steadily, the company said, and new markets around the world, notably amongst former Soviet Union countries, were showing encouraging signs.

However, the action taken by the company in the important US market was not yet reflected in sales for the year under review, "but we hope to see improvements here following the appointment of Branca Products Incorporated who became our importer from 1 January 2002," Shiach said.


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