Published: 16 October, 2008
Diageo is holding onto its full year profit target of between 7% and 9%, despite the financial crisis. TextDiageo is holding onto its full year profit target of between 7% and 9%, despite the financial crisis.
The drinks giant, which produces Smirnoff vodka, Johnnie Walker whisky and Guinness said organic net sales growth in the three months ended 30 September 2008 was 6%.
Chief executive Paul Walsh said that Diageo had delivered a "good trading performance" in its first quarter, which ran from July to September, despite anticipated global GDP growth slowing.
Walsh said the company has not seen significant adverse changes in its markets over the past three months, but said that it will be "alert to the impact the recent dislocation in the financial markets is likely to have on trade customer and consumer behaviour during the rest of the financial year."
In August, Diageo reported a lower than expected 7% rise in sales for the year ending June 2008 and a small drop in pre-tax profit to £2.095 billion, but said that operating profit had improved 9% to £2.23bn.
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Published: 15 October, 2008
Maxxium is launching an on and off-trade campaign to boost sales of its Famous Grouse whisky brand in the run up to St Andrew's Day.
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Published: 15 October, 2008
UK distributor Paragon Vintners has re-established an Australian representation in its portfolio by winning the full UK distribution for South Australian winery Jip Jip Rocks.
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Published: 15 October, 2008
The Association of Licensed Multiple Retailers (ALMR) has added its voice to the debate over a mandatory code of practice for the drinks trade, by branding the proposals "ridiculous" and "reckless". TextThe Association of Licensed Multiple Retailers (ALMR) has added its voice to the debate over a mandatory code of practice for the drinks trade, by branding the proposals "ridiculous" and "reckless".
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Published: 15 October, 2008
Casella Wines, makers of the popular Yellow Tail brand, has appointed a specialist wine sales and marketing agency in a bid to expand the volume of the brand's European sales.
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Published: 15 October, 2008
A new study has shown that white wine might be just as good for your heart as red.
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Published: 14 October, 2008
SAB Miller, the world's third largest brewer, said that beer sales increased slightly in the first half of its financial year because rising demand in emerging markets offset falling sales from US and South African buyers.
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Published: 14 October, 2008
Chilean producer Viña Ventisquero has been announced as the only wine company to reach the finals of this year's Green Awards.
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Published: 14 October, 2008
The Wine and Spirit Trade Association (WSTA) has publicly rejected Labour's proposals for a new mandatory code of practice for the drinks trade, saying that more legislation is not the way to tackle the UK's binge drink problem.
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Published: 14 October, 2008
Vin & Sprit (V&S), owners of premier Swedish vodka brand Absolute Vodka is suing Absolute Radio, the rebranded Virgin Radio, over what it claims is trademark infringement.
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Published: 14 October, 2008
Chilean winery Viña Undurraga has teamed up with travel retail specialist The World of Patria to target the travel retail and duty free markets in Europe and the Middle East.
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Published: 14 October, 2008
The Police Federation will today tell the government that its Licensing Act is failing to encourage more responsible attitudes to alcohol or reduce drink-related crime.
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Published: 14 October, 2008
This week Jane MacQuitty assesses the future of Oddbins, Victoria Moore goes back to her roots and Jonny Beardsall takes a trip to the Namib desert to meet a remarkable winemaker. Meanwhile Joanna Simon is surprised by the following on new website thewinegang.com.
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Published: 13 October, 2008
Champagne Jacquart has announced the appointment of a new export director for the UK and Irish markets.
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Published: 13 October, 2008
New figures released today show Asda to be the fastest growing wine retailer in the UK.
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Published: 13 October, 2008
Tesco is launching a range of "credit crunch" ales, in a bid to cash in on the rising demand for ale and plug the gap left by falling lager sales.
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Published: 13 October, 2008
Gallo Family Vineyards is sponsoring this year's Affordable Art Fair for the second year running.
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Published: 13 October, 2008
A round-up of stories from the weekend newspapers. TextA round-up of stories from the weekend newspapers.
Sunday Times: Picking up on the Government's drinks industry code first leaked to Harpers last week, the Sunday Times says the proposals mark a hardening in the government's stance after the failure of a voluntary code to curb binge drinking. Under the proposals, bars are to be banned from offering free alcohol to women and free wine and beer tastings will be curbed under a new system of government restrictions to cut public drunkenness. There will also be rules to limit "happy hour" offers that encourage speed drinking, and soft drinks will have to be sold at the same discount during promotions. Wine in restaurants will have to be served in glasses with marked measures.
The FT: Foster's, the Australian drinks group, is preparing its takeover defences amid expectations that the sale or demerger of its wine business will lead to a scramble for its coveted beer operations. The drinks group, which recently named Ian Johnston as chief executive after his predecessor Trevor O'Hoy took the fall for the group's ill-fated foray into wine, is due to complete the "strategic review" of its wine business within about 10 weeks. Analysts estimate that Foster's beer assets could be worth close to A$12bn (US$7.8bn). SABMiller, the London-based brewer, is a strong contender to bid for the beer brands if they come on to the market.
The FT: SABMiller, maker of Peroni and Pilsner Urquell beers, is expected to report flat or negative like-for-like lager sales, with sales in key markets such as South Africa and Colombia likely to disappoint. Focus will be on SAB's key trading currencies, particularly the Columbian peso, which has fallen against the US dollar (the currency that the company reports its results in) over recent months.
The FT: Diageo, maker of Baileys liqueur and Smirnoff vodka, is expected to say it remains on track to meet prior guidance in spite of increasing macroeconomic uncertainty. But interest is on how the distiller's whisky and vodka sales are holding up in such places as Russia, which has been engulfed in political and financial turmoil.
The Sun: A beer hall in Iraq has held its own version of Munich's famous Oktoberfest party - complete with frothy steins, sausages, an oom-pah band and dirndl-clad waitresses. German-born Gunter Voelker, owner of the Deutscher Hof Erbil restaurant in Irbil, in Kurdish controlled Northern Iraq, says he wants to dispel the notion that Iraq isn't a holiday destination and insists beer is bringing people together.
The Mirror: Airline pilots banned from the road for drinkdriving are allowed to carry on flying passenger jets, the Civil Aviation Authority has revealed. The CAA has admitted that nine commercial pilots were convicted of drink-driving last year. Three worked for easyJet while one was employed by Virgin Airlines. Pilots are banned from any alcohol consumption within eight hours of a shift, and easyJet imposes a 10-hour embargo ahead of duty.
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Published: 13 October, 2008
A vodka drink is to be removed from sale because it looks like a soft drink and could appeal to children.
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Published: 13 October, 2008
TalkingDrinks.com has had a makeover.
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