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.
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.