Last year's duty cuts have benefited consumers and helped halt volume sales declines, the latest research from the WSTA has found.
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Soft drinks manufacturer AG Barr saw a 10% boost to its pre-tax profit to £41.9m, with turnover up 2.7% to £290.9m in the 12 months to 25 January.
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In its inaugural financial year results as a publicly traded company, Fever-Tree beat analysts expectations and saw revenue grow by 49%.
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New Zealand winery, Invivo Wines, raised over half its NZ$2 million target in a matter of hours after its crowdfunding campaign was opened for business yesterday.
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The current fluctuations in currency exchange rates was the 'conversation of ProWein', particularly with the weakening euro and the strengthening US dollar having ripple effects on the global wine trade.
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Miles Beale, chief executive, of the Wine & Spirit Trade Association has described the Chancellor's decision to freeze wine duty and cut spirits by 2% as "just about the perfect result" it could have hoped from its Drop the Duty campaign.
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The Chancellor George Osborne has today cut the duty on cider and spirits by 2%, frozen duty on wine and cut beer by a penny a pint for the third year running in his last pre-election Budget.
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As the Chancellor prepares to deliver his last pre-election Budget to the House of Commons today, the drinks industry waits nervously to find out if this year's campaign has persuaded him to Drop the Duty!
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The drinks industry has welcomed the Chancellor's decision to cut the duty on spirits and cider.
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Miles Beale, chief executive of the Wine and Spirit Trade Association has commended the drinks industry for uniting behind the WSTA's Drop the Duty campaign and producing a compelling case for a 2% cut in duty.
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Cutting duty on wine might swing the election, a new poll has claimed.
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Domestic sales of whisky have fallen nearly 5% in the last year, according to new figures from the Scotch Whisky Association.
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Waitrose saw operating profits fall 23.4%, on the back of increased investment in operations and amid a deflationary market.
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Family run Oakley Wine Agencies, which specialises in Portuguese wines, posted 20% growth over the last 12 months despite facing a challenging trading market with supermarkets.
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Morrison's results were broadly in line with expectations, City analysts agreed - but incoming chief executive David Potts faces a tough year.
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Morrisons has posted an annual pre-tax loss of £792m, as total turnover fell 4.9% to £16,816m in the 52 weeks to 1 February 2015.
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Italian drinks group Gruppo Campari saw sales rise 2.4% in 2014 - but group net profit fell 13.9% to €43.2m, following one-off costs involved in recent acquisitions and an unfavourable exchange rate.
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Invivo claims it will be the first New Zealand winery to launch an equity crowdfunding offer as it hopes to raise a maximum $2million NZD (just under £1 million) with the help of shareholders, including UK chat show host, Graham Norton, to spearhead its future growth.
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Leading front bench MP Sadiq Khan has followed up a Harpers request to lobby the Chancellor for a 2% cut in alcohol duty for wine and spirits and back the Wine & Spirit Trade Association-led Drop the Duty campaign.
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The euro has been having a rough time of it lately, which has implications for the wine world and may cause things to change over the next couple of months.
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