SPAIN: Brewer Damm’s profit down on costs
Spanish brewer Damm has posted a 33% drop in net profit to EUR51.3m for 2008, hurt by capital expenditure charges and investment losses.
Sales increased 4.6% to EUR755m for the year, but could not offset charges related to a EUR137m investment to expand the business and unquantified losses in the firm's stock market portfolio, the company said late last week.
Barcelona-based Damm, which owns the Estrella brand, added that sales fell sharply after the summer, when Spain's economic crisis worsened.
Last year's investments went to expand the company's Barcelona port operations, its Prat de Llobregat factory, and the launch of two new beer labels: Estrella Damm Inedit and non-alcohol Free Damm Lemon.
Damm also cut its headcount to 2,223 from 2,345.
Sectors: Beer & cider
Price rises on drinks are not the solution to preventing excess drinking by teenagers and young people in the UK, argues just-drinks' student journalist Becky Pile....
Read our list of high-profile consumer boycotts, in our weekly just the facts....
Industry advocates may have branded the recent tax rise for RTDs in Australia a "tax grab masquerading as health policy", but it has shown the Government's resolve when it comes to alcohol regulation....
The long-running discussions between the world's largest spirits maker, Diageo, and India's United Spirits over a possible stake purchase collapsed this week. Michelle Russell examines the fallout....
Coca-Cola Icecek booked a 14.5% increase in first-half profit today (28 August) and said it is on track to delivery top-line growth going forward....
The head of Diageo has warned that the offer of public funding alone will not be enough to reverse the company's decision to cut a net 500 jobs in Scotland....
People in the UK are consuming more alcohol than ever before, but the number of drinkers is going down, according to new research....
Irish pubs are calling for government action to offset a decline in the pub trade after 4,800 jobs were lost in the last 12 months....
- American whiskey does a vodka - Analysis
- Battle continues for Pernod Ricard in US and China
- Pernod Ricard's FY Performance by Region, Brand
- Japan follows in Scotch whisky's footsteps
- Why consumers don't care about vodka's provenance
- Pernod Ricard "in line" after full-year results
- New whisky distillery set for Edinburgh
- India overtakes France for Pernod Ricard
- Diageo launches glass Bulleit & Cola bottles
- Corby's FY suffers from US focus
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Pernod Ricard SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research