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Blavod in takeover talks

Published:  23 July, 2008

Blavod Extreme Spirits is continuing talks with an unidentified suitor about a potential takeover bid, but its latest financial results will not have increased its attractions.

The producer of black vodka saw no decrease in its losses in the first half of its financial year, which stood at 1.7m on turnover 61% ahead at 3.5m. It blamed the performance on margin erosion due to extensive promotional activity. The shares of the Aim-listed company fell to 11p, their lowest level since coming to the market.