Spirits producer Diageo has seen its full-year profits halved due to the Covid-19 crisis and had to lower the value of its brand portfolio (including Guinness, Johnny Walker and Smirnoff) by 1.5 billion euros.
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Now that 'normal' life is at a standstill, a real corona industry is emerging: distilleries, breweries and perfume makers are switching to the production of disinfectant alcohol. Even LVHM is replacing perfume bottles with hand gel.
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French liquor giant Pernod Ricard has had an excellent year, especially in China, and wants to build on that through a major acquisition and a new distillery.
Valérie Chapoulaud-Floquet, the CEO of French liquor group Rémy Cointreau, will be leaving her position at the end of the year, as the group announced "with sadness".
French spirit producer Rémy Cointreau has had a tremendous financial year, as cognac proved to be a booming business with sales going up 12 %.
European spirit producers will start mentioning the number of calories in their drinks on their packaging. Officially, alcoholic beverages are exempt from this European regulation. This non-binding agreement does also not apply to wine and beer.
Both turnover and profits were in decline over the past six months at Dutch spirits manufacturer Lucas Bols. The disappointing results are due to temporary import restrictions in West Africa and fewer gin sales in the Netherlands.
Pernod Ricard has started its financial year 2018-2019 well, but the world's second biggest producer of spirits warns that the second half of the year will not be as outspoken.
Pernod Ricard, the second largest beverage group in the world, saw substantial growth last year thanks to China and India. Profit however remains below expectations due to higher prices of raw materials.
Liquor holding Diageo, best known for its Johnnie Walker, Smirnoff and Gordon’s brands, has achieved a 4.2 % turnover increase in the past six months. However, the exchange rates impacted the British company, nullifying much of its growth.
French liquor group Rémy Cointreau had an excellent third quarter. Its more expensive bottles of cognac were very popular, especially in China, Japan and Singapore.
Liquor manufacturer Lucas Bols’ turnover has grown 23.8 % in the first six months of its broken fiscal year, to 48.8 million euro. Aside from 0.5 %, the entire growth is thanks to liquor brand Passoã’s integration.
French liquor group Rémy Cointreau has had an excellent fiscal year, thanks to its Rémy Martin cognac and its increased popularity in the United States and China.
Amazon entered a collaboration with liquor manufacturer Diageo to create several “shoppable” videos revolving around cocktails based on liquors like Captain Morgan and Smirnoff.
Liquor manufacturer Rémy Cointreau’s turnover grew 4.2 % to 1.09 billion euro in its latest fiscal year (which ended on 31 March). Organically, it even achieved a 4.7 % growth.
In the first half of its fiscal year, French liquor group Pernod Ricard achieved a turnover and profit increase, mostly thanks to its excellent Asian sales and the performance of its Jameson whisky brand.