If spirit companies are to generate growth in a depressed market they are better to concentrate on protecting margins than trying to drive volumes, according to Rabobank, financial experts for the drinks industry.
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Norwich-based Naked Wines has announced it has secured a third round of funding of £6.4 million from German WIV Wein International AG, a founding shareholder in the company, bringing the total amount invested by WIV in the online retailer to £15.4 million.
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Treasury Wine Estates has seen annual net profits slide by 50% due to one-off charges on unsold wine in the US, but sales in the UK have shown signs of recovery in recent months.
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Treasury Wine Estates has come under pressure to justify its continued presence in the Americas after announcing it will be forced to spend tens of millions of dollars to destroy excess wine in the US.
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With operations in the UK, US and Australia, Naked Wines' Rowan Gormley and Eamon Fitzgerald look at further growth with Richard Siddle
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