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Marie Brizard Wine & Spirits poised for more losses in 2019

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Marie Brizard Wine & Spirits has warned of a sizeable loss in its results for the current calendar year.

Marie Brizard Wine & Spirits reported losses of EUR7.7m in the first half of this year

Marie Brizard Wine & Spirits reported losses of EUR7.7m in the first half of this year

The France-based company, which has already posted a 1.7% decrease in sales from the six months to the end of June, said earlier today that the EBITDA loss for the full 12 months will come in at between EUR20m (US$22m) and EUR25m. The outlook came despite its six-month EBITDA loss totalling EUR7.7m, with MBWS blaming "numerous structural decisions" in recent months.

In 2018, EBITDA losses totalled EUR28m.

"Distribution synergies with COFEPP (Compagnie Financière de Prises de Participations) internationally have been implemented," MBWS said, "Porto Pitters has been sold and the sale of Sobieski Trade is in progress, a project to redeploy its sales forces in France is underway and a strategic partnership has been established for the distribution of the group's brands in the US."

Meanwhile, a competitive vodka market in Poland is also hampering bottom-line performance. "Marie Brizard Wine & Spirits is considering all necessary measures to ensure a turnaround of its performance," the group added. Earlier this month, Stock Spirits, which is one of MBWS's main vodka competitors in Poland, credited the country's vodka market with increasing sales by both value and volumes in the 12 months to the end of September.

MBWS is aiming to return to "profitable growth" by 2022.

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