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Thursday, 21 October, 2004, 08:32 GMT 09:32 UK

Malibu maker sees profits climb

Malibu Rising sales of core spirit brands have helped drinks giant Allied Domecq report a rise in annual profits.

The owner of Courvoisier cognac and Beefeater gin said full-year pre-tax profits before exceptional items rose 6% to £521m ($942.6m).

Strong US sales helped to offset tougher trading in markets such as South Korea, France and Germany.

Sales volumes of core spirits brands rose by 8%, with Malibu and Sauza among its fastest-growing products.

ALLIED DOMECQ BRANDS

  • Ballantine's whisky
  • Beefeater gin
  • Canadian Club whisky
  • Courvoisier cognac
  • Malibu rum
  • Sauza tequila
  • Tia Maria liqueur

    The firm said it had continued to grow its market share in the US, with volumes up by 5%.

    In Europe, the company saw sales recover in Spain, and reported a good performance in the UK and Central and Eastern Europe.

    However, the firm encountered "tougher trading conditions" in France and Germany where slower economic growth hit consumer spending.

    Its quick-service restaurants business - which includes Dunkin' Donuts and Baskin-Robbins ice cream parlours - had an "excellent" year, Allied Domecq said, with profits up 21% at £86m.




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    Related to this story:
    US sales lift Allied Domecq (21 Oct 03  |  Business )
    Allied quits race for wine maker (13 Oct 03  |  Business )
    Allied spurned in Aussie wine bid (02 Oct 03  |  Business )
    Allied bids for Aussie wine maker (22 Sep 03  |  Business )

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