Allied Domecq benefits from brand buys

Spirits group Allied Domecq's profits have grown 6 per cent after it bought up brands such as Malibu and Kuemmerling.

Spirits group Allied Domecq's profits have grown 6 per cent after it bought up brands such as Malibu and Kuemmerling.

Full-year profits grew to £480 million sterling from £453 million. Turnover rose 16 per cent to £3.334 billion from £2.879 billion.

The company has recommended a final dividend of 8.1p giving a total for the year of 13p, an increase of 7 per cent.

Allied has spent almost £2 billion in the past two years buying liquor and premium wine brands in New Zealand, Europe, the United States and Latin America.

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Chief executive Mr Philip Bowman said: "These results represent a successful outcome to an important year for Allied Domecq.

"We have maintained our focus on delivering profit growth while adding significantly to our brand portfolio and improving volume performance in key markets".

PA