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April 17, 2003

CANADA: Corby Distillers second quarter profits up

The Canadian drinks company Corby Distilleries has posted a second-quarter profit rise of 13% with net earnings coming in at C$5.2m, compared to  C$4.6m for the period a year earlier. The results were despite recording a charge of C$2.1m $2.1 million for a restructuring of its workforce, which included 25 job losses.

The Canadian drinks company Corby Distilleries has posted a second-quarter profit rise of 13% with net earnings coming in at C$5.2m, compared to  C$4.6m for the period a year earlier.


The results were despite recording a charge of C$2.1m $2.1 million for a restructuring of its workforce, which included 25 job losses.


For the first half though profit fell to C$13.7m, from C$14.2m for the first half last year.
The company said that equity earnings from Corby’s investment in the Tia Maria Group fell C$1.7m in the six-month period as a result of continued advertising and promotion behind the launch of the Tia Lusso brand.

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