Chivas Regal records rise in profits, thanks to India

Monday, 22 March 2004, 08:00 Hrs
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LONDON: Thanks to the devotees of Bacchus in India, the company producing Chivas Regal has recorded a six per cent rise in full-year profits.

Pernod Ricard, the company, has reported huge sales in Asia, including India.

The company is Scotland's third largest whisky group behind Diageo and Allied Domecq and holds 2.14 billion pounds worth of whisky brands and an 11 per cent market share.

During the year, it saw worldwide sales in its flagship brand, Chivas Regal, climb seven percent to 2.9 million cases.

The Glenlivet also underlined its strong position in the key North America market, with a sales hike of six percent.

Richard Burrows, the group's joint managing director, said he expected a recovery in the French market, hit by the government's anti-drink driving campaign, and was encouraged by the market potential of Chivas in China and Russia.

He said: "We certainly see Asia as an area of great opportunity in 2004 and we have a very strong position in a number of markets with fast growth like China, Russia, Brazil and India, all countries where we have a good base and the economy is growing."

The maker of Martell, Havana Club rum and Jacobs Creek wines announced it was aiming for 6-8 percent operating profit growth and 4-6 percent sales growth per year over the next three to five years. Group pre-tax profit for the fiscal year 2003 rose six percent to 430 million pounds.

Source: IANS
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