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| Tuesday, 29 October, 2002, 18:01 GMT Marketing push lifts drinks profits ![]() The winemaker Montana is one of Allied Domecq's recent acquisitions A big marketing push at the drinks giant Allied Domecq, whose brands include Ballantine's whisky and Beefeater gin, has helped to boost the firm's profits.
Turnover increased 16% to �3.33bn, helped by a number for acquisitions over the year including the winemaker Montana and coconut rum Malibu. Allied said the integration of the new brands had gone well, and it was now looking to generate higher profits. "These results represent a successful outcome to an important year for Allied Domecq," said chief executive Philip Bowman. Rap boost "Seven of our eight core brands are now showing volume growth reflecting our continued commitment to invest strongly behind our core brands," he added. Allied's US business saw profits rise, and the company said it had had a "successful" 12 months in the UK. Sales of Courvoisier cognac in the US and UK received an unexpected boost from the success of the "pass the Courvoisier" track by rapper Busta Rhymes. Allied also said its food business was doing well, with underlying sales at Dunkin' Donuts up 6% in the US, while underlying sales at its Baskin-Robbins ice cream outlets grew 2% in the US. "These are a solid set of number which reflects the solid state of the spirits market," said analyst Ian Shackleton at Credit Suisse First Boston. "Allied is not outperforming the industry, but is doing quite well." Shares in Allied Domecq closed down 14 pence at 370p. | See also: 29 Apr 02 | Business 19 Dec 01 | Business 30 Oct 01 | Business 01 May 01 | Business Top Business stories now: Links to more Business stories are at the foot of the page. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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