Business & Finance - Harpers Wine & Spirit Trade News

Oddbins losses halve as turnover in England rises 10%

Published: 31 March, 2015

Oddbins saw turnover increase nearly 10% in England in the last 12 months, as it makes headway towards profitability.

Duty cuts last year benefited consumers and helped stem volume decline, WSTA claims

Published: 26 March, 2015

Last year's duty cuts have benefited consumers and helped halt volume sales declines, the latest research from the WSTA has found.

AG Barr sees profits boosted 10%

Published: 24 March, 2015

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.

Fever-Tree's revenue soars 49%

Published: 23 March, 2015

In its inaugural financial year results as a publicly traded company, Fever-Tree beat analysts expectations and saw revenue grow by 49%.

Invivo half way to NZ$2m crowdfunding target after only one day of trading

Published: 20 March, 2015

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.

ProWein 2015: Global currency fluctuations a key topic at this year's fair

Published: 19 March, 2015

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.

Budget Latest: WSTA's Miles Beale says Chancellor has given drinks industry "perfect result"

Published: 19 March, 2015

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.

Budget 2015: Chancellor cuts duty on cider and spirits by 2% and wine duty frozen

Published: 18 March, 2015

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.

Budget 2015: Drinks industry waits with bated breath

Published: 18 March, 2015

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!

Budget 2015: Industry hails duty cuts announced in today's Budget

Published: 18 March, 2015

The drinks industry has welcomed the Chancellor's decision to cut the duty on spirits and cider.

Drop the Duty!: WSTA thanks industry for support as it waits for Budget Day

Published: 16 March, 2015

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.

WSTA poll claims cutting wine duty could help swing the election

Published: 13 March, 2015

Cutting duty on wine might swing the election, a new poll has claimed.

SWA ramps up call to cut duty as domestic sales of whisky fall

Published: 13 March, 2015

Domestic sales of whisky have fallen nearly 5% in the last year, according to new figures from the Scotch Whisky Association.

Waitrose profits hit by investment and deflation

Published: 12 March, 2015

Waitrose saw operating profits fall 23.4%, on the back of increased investment in operations and amid a deflationary market.

Oakley Wine Agencies grows sales by 20% in face of reduced listings in major multiples

Published: 12 March, 2015

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.

Morrisons' new boss faces a tough challenge say City analysts

Published: 12 March, 2015

Morrison's results were broadly in line with expectations, City analysts agreed - but incoming chief executive David Potts faces a tough year.

Morrisons posts losses of £792m as 23 convenience stores come into the firing line

Published: 12 March, 2015

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.

Gruppo Campari sees sales up but profits hit by acquisitions and poor exchange rate

Published: 10 March, 2015

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.

Invivo looks to raise close to £1m in first New Zealand wine crowdfunding venture

Published: 10 March, 2015

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.

Leading Labour MP calls on Chancellor to cut "shocking" duty levels in Budget

Published: 09 March, 2015

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.