1 May 2001
Interim results for the six months to 28 Febuary 2001
ALLIED DOMECQ DELIVERS 15% GROWTH IN EARNINGS PER SHARE
Allied Domecq announces its interim results for the six months to 28 February 2001.
|Profit before tax
|Normalised earnings per share
|Return on investment
Profits and earnings are stated before goodwill and exceptional items and exclude those of discontinued operations.
Philip Bowman, Chief Executive of Allied Domecq, said:
"We have continued to deliver double digit growth in trading profit and earnings per share. The trading profit from our Spirits & Wine business increased by 10% at constant exchange rates driven by volume and pricing improvements. Ballantine's, Beefeater and Kahlúa once again proved strong growth drivers. The profitability of our Quick Service Restaurants business was maintained at £21m while investing in the revitalisation of the Baskin-Robbins brand. Dunkin' Donuts and Togo's performed strongly.
Six months ago, we stated that our commitment to participate in industry consolidation would be tempered by our determination to create value for our shareholders. We are achieving this through a targeted approach to acquisitions, investing to enhance our brand portfolio and improve our geographic mix. The addition of the champagne brands, Mumm and Perrier-Jouët, and the distribution rights to Stolichnaya vodka in the US have strengthened our portfolio and we have also concluded a strategic alliance with Destileria Serralles regarding the acquisition of the Captain Morgan rum brand.
We are committed to being a dynamic marketing-led brands business and are driving the pace of change within the business to achieve this. Our focus remains on generating profitable value from our existing portfolio of powerful brands and on strengthening the portfolio and our distribution capabilities through acquisition and joint venture.
The directors are declaring an interim dividend of 4.5 pence per share; an increase of 13% compared with last year."