Lower debts lead to higher profit for Bols | RetailDetail

Lower debts lead to higher profit for Bols

Lower debts lead to higher profit for Bols

Gin and liquor manufacturer Lucas Bols has managed to reach a 7.7 million euro net profit in the first half of its 2015/2016 fiscal year. That is nearly 4 times as high as its net profit last year, which reached 2 million euro.

Turnover drop

Bols contributes the higher net profit to its lower net debt, as that resulted in lower financing costs. On the other hand, Bols' turnover did drop nearly 3 % in the same time frame, down to 39.4 million euro.

 

That lower turnover was the result of a one-time stock depletion strategy in the Asian-Pacific region. North American turnover managed to grow 3.4 % at level exchange rates, but unfortunately for Bols, negative exchange rate fluctuations resulted in a 0.2 million euro turnover drop.

 

Bols forecasts growth for its global brands and a stabilization of its regional brands in the long run. "Improved economic circumstances worldwide have resulted in a more positive hospitality industry environment and a growing cocktail culture and both stimulate the further development of our global brands. We will keep working on speeding up growth for our American brands through our Lucas Bols USA organization", the press release said.

Questions or comments? Please feel free to contact the editors


Adidas wants to strengthen bond with small retailers

15/07/2018

German sportswear giant Adidas says it wants to strengthen its bond with small-scale retailers after they claimed Adidas is too aggressive in pushing its web shop, especially as they feel the brand is favouring large international chains as well.

Several candidates to take over Men at Work

12/07/2018

There are several takeover candidates for both the Dutch and the Belgian stores of the bankrupt clothing chain Men at work. The curator is confident an agreement should be reached today in Belgium.

Burberry sales increases thanks to new strategy

11/07/2018

The new strategy of the British fashion brand Burberry starts to render: the company had a 3% increase of revenue in their own stores last quarter. In total, Burberry has now a revenue of 479 million pounds (520 million euros).

FNG moves to Brussels stock exchange

06/07/2018

Belgian fashion group FNG has collected 60 million euros by issuing new shares. The new shares will be traded on the Amsterdam Stock Exchange and - for the first time - on the Brussels Stock Exchange as well.

Athleteshop ends its run

02/07/2018

Dutch sports web shop Athleteshop has filed for bankruptcy, after an abysmal year in which strings of complaints led to all sorts of problems. Social media and review sites were flooded with customers complaining about late deliveries.

Alibaba goes Turkish with stake in Trendyol

29/06/2018

Alibaba is the new strategic partner of Trendyol, one of the best-known e-commerce companies in Turkey. With this partnership, the Chinese retailgroup strengthens its presence in Europe.