Allied raises spirirts with positive update
Drinks giant Allied Domecq was today toasting the success of spirits such as Ballantine’s whisky and Malibu rum as it issued an upbeat trading statement.
The group, based in Bristol, England, also makes Beefeater gin and Tia Maria and said robust growth from its core spirit brands contributed to a strong second-half performance.
Premium wines and the Quick Service Restaurants arm, which includes Dunkin’ Donuts and Baskin-Robbins ice cream parlours, also boosted the group.
In a statement issued ahead of results for the year to August 31, Allied said the strong growth would offset the “very significant” impact of currency fluctuations during the year.
Chief executive Philip Bowman said: “This has clearly been a positive second half to the year for Allied Domecq with good volume and value growth across our spirits, wine and Quick Service Restaurants brand portfolios.”
Allied, which employs 12,500 staff worldwide, said its spirits portfolio saw especially strong growth in the US, with good growth in Spain, the UK and central Europe.
Elsewhere, some markets remained challenging, but these areas were up against weak comparatives from last year. At constant exchange rates, Asia Pacific traded in line with last year and Latin America was significantly ahead.
As well as Ballantine’s and Malibu, Sauza tequila and Canadian Club whisky were the other top performing spirits.
Allied’s wine portfolio delivered very strong profit growth as a result of the group’s continued focus on the premium market. Its wines include Champagne Perrier Jouet, Champagne Mumm and Clos du Bois.
New store openings and product innovation helped the 12,000-strong Quick Service Restaurant arm continue to deliver “excellent” profit growth.
Shares rose 7p to 455p on the FTSE today.
