A GROWING share of the booming Chinese market shone yesterday as a highlight of figures released by Pernod Ricard, the French-owned parent company of Chivas Brothers.
The world's second-biggest drinks group after Diageo said net profits rose by 2.3 per cent to 500 million (£340m) in the six months to 31 December, lower-than-expected - but it still insisted that it expected profit growth of 20 per cent for the full year.
The firm is also the second-largest Scotch whisky producer, employing 1,600 people throughout Scotland, on key brands including Ballantines, Chivas and The Glenlivet. Its other main spirit brands include Beefeater gin, Stolichnaya vodka and Martell brandy.
Shares in the company, listed in France, slumped 5 per cent after the update, despite operating profit rising 13.
8 per cent to 865m in the six months to 31 December on sales that grew 7.3 per cent to 3.5 billion.
The group, which also reaffirmed its interest in bidding for Absolut vodka, said that sales of its premium brands, such as Chivas and Martell, had been especially strong and that all regions had contributed to the growth in profits while international expansion had paid off, with 53 per cent of profits from the Americas, Asia and the rest of world.
Pernod's portfolio of premium brands was enhanced by the 2005 acquisition of Allied Domecq, including Ballantines, which is now the third-biggest-selling whisky in the world, with annual sales of 5.3 million cases.
Among the group's star performers in the premium, super-premium and single malt categories were Chivas eight-year old, Ballantine's 17, 21 and 30-year-olds, Royal Salute, and The Glenlivet.
A spokesman for the company said yesterday that 3.8 million cases of Chivas are exported each year, and that China remains its most important market, claiming it now holds No 1 spot, followed by Johnnie Walker Black Label and Ballantine's 12-year-old.
"China has been a dogfight for Scotch producers and it seems that Chivas was in the right place at the right time with the right product. China is not just about volume, it's about premiumisation, based on not getting people to drink more, but to drink 'better'", he added.
• The Scotch Whisky Association, the industry body which supports 40,000 jobs in Scotland and earns £2.
4bn in export revenue, has launched its pre-election manifesto identifying four key areas for action by the next Executive.
It concentrates on promoting responsible attitudes to alcohol and tackling misuse, promoting the international competitiveness of Scotch whisky, and new legislation to further codify the definition and presentation rules for the product, and protecting consumers and the industry from unfair and misleading practices.
Gavin Hewitt, SWA chief executive, said: "Whisky's international success and sustainability is crucial to thousands of jobs.
In the next parliament, we look to all political parties to work with distillers to protect and promote this vitally important Scottish industry."
Whisky's international success and sustainability is crucial to thousands of jobs. In the next parliament, we look to all political parties to work with distillers to protect and promote this vitally important Scottish industry.
Bill Gates, HP, IBM Marks and Spenser’s BHS, Sainsbury, Dell, Bra shoes and the shoes shops said the same thing. Who wants to listens? All said took the matter to the World Trade Centre (heaven knows where this is) but all lost the voices and the EU have the Bra and UK and USA have the bra and shoes.
They are durable cheap and easily accessible piratetable, fixable, fake able, anything the Whiskey industry seems to be in the problem. I can see the pink slips already being printed in Switzerland Hush hush this is. Then vamoose some cuts here some there and more jobs on the walking and looking for the vacancies.
No I am serious. China and India are everywhere. One is next to me.
The PC I use.
Dlink Chivas Legal and live to be a hundled.
Why can't we farm the whisky making out to India and make it for less?
Lisa, Lisa, Lisa...
re. #2 Dlink Chivas Legal and live to be a hundled.
Au contraire!
It is ...
Dlink Chivas Legar and rive to be a hundled.
Solly, Peron. Riving on a diet of boired lice and Led Raber affects my blain.
Make note - must tly haldel.
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