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V&S profits rise on Absolut growth

Published:  23 July, 2008

The 2007 annual report for drinks firm Vin & Sprit (V&S) has shown group operating profits increased by 1% with marked growth in the company's integral brand Absolut Vodka.

Net sales remained essentially unchanged while sales volume increased by 5%.

Bengt Baron, V&S chief executive, said the group had been focussing on two main tasks in 2007 - driving profitability in the northern European market and ensuring Absolut Vodka's strong growth continued unabated.

Last year V&S Absolut Spirits increased the sales volume for Absolut Vodka by 9%, which equates to a 26% sales volume increase for the brand over the last three years.

Bengt added: "This [figure] is something we are very proud of. The market share for Absolut Vodka grew in the US, while sales volume on the vast majority of other key markets showed very strong growth."

Increasing sales and profitability of the brand "despite the weak development of the US dollar" showed "how successful" Absolut Vodka is, he concluded.