Worse-than-expected performances at home and abroad, and from both
new and existing products, will mean pre-tax profits at UK cider
maker HP Bulmer falling at least £14 million short of expectations
in 2003.
Strong performances in Poland and Russia helped French spirits
group Belvedere to end the first half of the year back in the
black, at the operating level at least. Further restructuring and
acquisitions in Eastern Europe also bode...
The European Commission gives the go ahead to Diageo to sell its
last remaining food-related business, leaving the UK group free to
strengthen its position as the world's leading spirits and wine
producer.
Martell, the latest priority brand to join the Pernod Ricard
stable, will see a quarter of its workforce axed in the coming
months, a move Pernod says is necessary to keep the company
competitive.
Two years after the town of Kutna Hora bought the local brewery in
order to maintain jobs, the business has been acquired by the
Drinks Union comapny which now plans a major increase in output.
Dutch brewer Heineken is already profiting from its recent
strategic alliance with Costa Rican brewer FIFCO. The two companies
have joined forces with soft drink bottler Panamco to buy Baru, one
of the leading brewers in Panama.
Interbrew's Czech brewery Prazske Pivovary has completed the first
stage of its financial restructuring designed to help increase its
share capital and provide cash for future developments.
A lacklustre stock market performance compared to many of its
rivals belied a good first half performance from Wolverhampton
& Dudley, Britain's biggest regional brewer.
Britain's oldest brewer, Kent-based Shepherd Neame, has benefited
from strong demand for its Spitfire brand and an excellent
performance from its managed pubs to post its 27th annual increase
in profits.
Now fully focused on wine and spirits, France's Pernod Ricard group
has announced a strong rise in first half sales and profits, thanks
to good organic growth from brands such as Jacob's Creek, and to
the addition of the...
The addition of the Pommery brand, acquired from LVMH in April,
will help Vranken Monopole lift its sales and profits this year,
although the company is expecting an improvement even without the
new brand.
Leading Brands, the Canadian maker of the Trek energy drink, has
reported a revenue increase of 41 per cent for the second quarter
of its 2002 fiscal year ended 28 February 2003. Sales of the new
Trek performance drink have exceeded...
The worst weather for many years in May, June and July kept profit
growth at Scotland's AG Barr to a 'disappointing' minimum in the
first half, but the return of the sunshine in the latter part of
the summer bodes well...
A difficult half for beer, spirits and lower-end wine sales was
offset by a good performance from premium wine brands at the
US-based drinks group Constellation Brands, though the UK unit also
showed positive developments.
A steady drop in the company's share price over the last month has
prompted Coca-Cola HBC's main shareholders to withdraw plans for a
secondary listing in New York.
CEDC, the Florida-based company which is one of the leading
distributors of alcoholic drinks in Poland, has added another
distributor to its portfolio, plugging a gap where it had
previously been under-represented.
The world's second largest Coca-Cola bottler is to list 5 per cent
of its shares on the New York Stock Exchange, adding to existing
listings in Athens, London and Australia.
Heinken has announced its third acqusition in almost as many days.
The Dutch firm will extend its presence in Africa with the
acqusition of a 69 per cent stake in Lebanon's only brewer, Almaza.
US cranberry ingredients company Ocean Spray ITG has appointed Jim
Lesser as group marketing manager of ITG & Foods Team. The move
is part of an internal restructure which sees the Ingredient
Technology Group and Foods team merging...
Schweppes France is to take over many of the administrative duties
of Orangina-Pampryl, entailing the loss of 110 jobs. Some 48 posts
have already gone following the closure of a production facility.
The first five months of the current fiscal year have been good for
the world's second largest brewer, SABMiller, despite the
devaluation of currencies in South Africa.
Growing demand for Guinness Stout on export markets has prompted
Guinness UDV to invest €38m in expanding production of the brand's
secret ingredient at its Waterford brewery.
Angostura, the company famous for its bitter cocktail ingredient,
is expected to make a takeover bid for Scotch whisky maker Burn
Stewart within the next few weeks.
Belgian speciality beer maker Duvel Moortgat shrugged off declining
volumes in France and the Netherlands to post a 9 per cent rise in
first half turnover, helped by strong performances in the UK and
US.
Al Ahram Beverage Company (ABC) is to become the latest addition to
the Heineken portfolio, a deal which might go some way towards
appeasing analysts who were hoping for more news of growth as the
company announced its first half...
Luxury goods group LVMH showed a steady improvement in operating
profits in the first half, helped by good performances from
Champagne and Cognac in difficult market conditions.
As if declining profits and poor summer weather were not bad
enough, Britain's leading cider maker HP Bulmer has now revealed
previously unnoticed costs in its UK takehome division - costs
which will either push 2001/2002 profits...
The launch of the new Zinniz fruit-flavoured beer brand helped
Grolsch lift its share of an otherwise sluggish Dutch market.
Strong performances in the UK also contributed to a 6.6 per cent
rise in turnover during the half.
Strong organic growth from the premium drinks business was one of
several key drivers of growth at Diageo, the UK company which is
now wholly focused on its beer, wine and spirits business. Smirnoff
Ice and other RTD brands performed...
The world's biggest spirits group should continue with its policy
of using the proceeds of disposals to buy back shares when the sale
of its Burger King unit is completed. But this does not rule out
further acquisitions.
Leading UK brewer Scottish & Newcastle has reported increased
volume sales for its leading brands in the first five months of the
new financial year, helped by the acqusition of the Hartwall
business in Finland. Compatriot Greene...
Coca-Cola Hellenic HBC, the world's second largest Coke bottler
with operations in 26 countries, has reported strong growth in
sales and profits for the first half of the year.
Belvedere, the French wine and spirit distribution company, has
registered a 59 per cent rise in sales to €106.8 million in the
first half of the year, helped by the €8.2 million acquisition of
the Polish distillery Starograd Gdanski.
The merger of Stellenbosch Farmers' Winery and Distilllers
Corporation, two of the largest drinks producers in South Africa,
has helped Distell see improved growth opportunities and greater
international expansion.
California-based Naturade, the marketer of soy protein products,
posted a decrease of 24 per cent in net sales for the second
quarter, and an operating loss of $0.7 million (€0.7m).
Pharmaceuticals giant Roche has reported a 28 per cent fall in net
profits for the first half, but stuck with its forecast of a return
to double-digit growth in 2003.
The acquisition of the Belgian-based flavour house Perlarom has
enhanced Danisco's position in the premier league of European
flavour houses, the Danish company reported this week. In May this
year Danisco acquired the Perlarom...
The Ingredient Technology Group (ITG) division of Ocean Spray this
week announced record European sales of cranberry ingredients for
the last fiscal year. With a 134 per cent increase on the previous
year's sales, Europe now...
Imperial Chemical Industries (ICI) yesterday warned that technical
problems at one of its food flavour plants in Holland would wipe
£10m (€15.83m) off second-half profits, reports The Guardian.
British organisation the Health Supplement Information Service
counters recent arguments negating the benefits of vitamins. It
argues that the modern diet provides insufficient amounts of
nutrients for large numbers of the population.
Leading US flavour company International Flavors & Fragrances
(IFF) this week reported an increase in sales for the second
quarter 2002 with figures exceeding previously announced
expectations. In Europe strong fragrances sales...
