Blavod Extreme Spirits H1 sales up substantially but margins lower
LONDON (AFX) - Blavod Extreme Spirits PLC increased turnover by 61 pct in
the first half but it said some of this growth has been at the cost of lower
margins, specifically on Blavod Black Vodka.
In a statement alongside results for the half-year to end-Sept chief
executive Jeff Hopmayer said measures have been put in place to correct this in
the second half of the year, which is traditionally the main season for wine and
spirit sales.
Total sales for the six months were 3.54 mln stg, up from 2.20 mln the prior
year. Gross profit increased 34 pct to 986,000 stg from 737,000 stg but gross
profit margin was 28 pct, down from 34 pct in 2005.
The pretax loss for the half-year was 1.7 mln stg, compared with a loss of
1.6 mln a year earlier.
The group also updated on its announcement of Nov 28, confirming that
discussions regarding a possible offer are still ongoing. It said a further
announcement will be made in due course.
Turning to outlook, Hopmayer said the group is continuing to establish its
brands in its major target markets. In the second half of the year the group
expects to continue the momentum of the first half.
newsdesk@afxnews.com
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