The Scotch Whisky Association (SWA) is urging the next government to reverse the damage caused by Jeremy Hunt’s 10% increase in spirits excise duty. Newly published figures from HMRC reveal that the Treasury has lost more than £100m since the tax hike last August.
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Treasury Wine Estates (TWE) has provided a significant update on its Penfolds brand and strategic direction in China, almost three months after the lifting of tariffs on Australian wine imports.
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The Wine Society has reported a successful financial year, with annual sales reaching £149.1m, an increase from £147.7m the previous year. The company also saw a significant profit increase, up 12% to £1.8m from £1.6m in 2022/23. This growth comes after a particularly strong performance during the Christmas season and a robust second half of the year.
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To celebrate its 5th anniversary, Cask Trade aims to raise £10,000 for The Drinks Trust by selling bottles of cask-strength whisky. The company has bottled 200 bottles from two barrels of 2015 single-malt Scotch whisky from The Speyside Distillery.
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A recent report by the Wine and Spirit Trade Association (WSTA) has highlighted the substantial economic impact of the UK's wine and spirit industry, which contributed over £76bn to the economy in 2022. This marks a significant increase from the £49bn reported five years ago.
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As Bordeaux's 2023 en primeur campaign concludes, the wine community takes stock of its vital signs, and while the vintage falls short of 2022's heights, there are noteworthy successes according to Part II of Wine Lister’s 2024 Bordeaux Study.
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The Oxford Artisan Distillery (Toad) has become a cherished local institution since its inception. Known for its handcrafted spirits, the distillery prides itself on using sustainably farmed, heritage grains and traditional distilling methods. However, recent developments have cast a shadow over its future, leading to a campaign to keep Toad in its current location.
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A report released by the Chartered Trading Standards Institute (CTSI) has revealed that 70% of beer and wine served in UK pubs and bars is short-measured, resulting in significant financial losses for consumers. The study highlighted that an average beer drinker is losing approximately £88.40 annually, while a wine drinker loses around £114.40 per year due to under-pouring.
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At the London Wine Fair 2024, Miles Beale, chief executive of the Wine and Spirit Trade Association (WSTA), delivered a comprehensive ‘State of the Nation’ speech, reflecting on the past four and a half years of the UK wine market under various government administrations and outlining the sector’s needs from the next government.
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Pernod Ricard, a global leader in the spirits and wine industry, has reported robust performance in its third-quarter sales figures, indicating improving momentum across various markets. Despite challenges in certain regions like China and the US, Pernod’s premium international spirits portfolio and broad geographic footprint have largely mitigated the impact.
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Campari Group is set to double the production capacity of Aperol by expanding its Novi Ligure Plant, the group’s largest production hub globally.
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UK inflation slowed less than expected last month, despite the rate of price increases falling below that of the US for the first time in two years.
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English sparkling wine producer Nyetimber has agreed a deal in principle to buy The Lakes Distillery in a £46.1m deal.
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Signs of economic recovery are starting to appear in the fine wine market after a year of consistent declines. The industry benchmark, the Liv-ex 100 index, has been in freefall since March 2023, dipping 14.6%, whilst the broader Liv-ex 1000 index has fallen 15.3%.
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The government is using public health arguments as a “thin veneer to maintain market distortions” Miles Beale, chief executive of the WSTA, has said in a rebuttal of the claims made by Gareth Davies at the Westminster Hall debate earlier this month.
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The UK’s largest wine retailer, Majestic, has confirmed it is “exploring a deal to purchase all or part of the Vagabond Wines business”.
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Online wine retailer Naked Wines has hired debt advisers to explore refinancing options amid financial difficulty.
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The government dashed hopes of a cut to alcohol duty following the announcement of the Spring Budget today (6 March) by chancellor Jeremy Hunt.
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Soaring alcohol inflation has made an explosive hole in HMRC’s receipts, new figures reveal.
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Accolade Wines, Australia’s second-largest producer, has been taken over by a consortium of investors led by Bain & Co, the US-based management consulting company.
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