Allied Domecq, the world's second-biggest spirits company, said today its annual earnings will show growth, led by a strong performance of its top spirit brands, and be in line with expectations.
Allied, which markets Ballantine's scotch, Sauza tequila and Courvoisier cognac, said growth in its spirit sales had been led by a strong performance in the US, supported by good profit growth in Spain, Britain and central Europe.
The group gave the update in a trading statement covering its financial year to August 31st, and will report full-year results on October 21st.
"This has clearly been a good year for Allied Domecq with good volume and value growth across our spirits, wine and QSR brand portfolios," said chief executive Mr Philip Bowman in the statement.
"The resulting strong organic growth from our businesses will allow Allied Domecq to report a further year of earnings growth despite the very significant adverse impact of currency movements during the year," he added.
Mr Bowman said its Quick Service Restaurant (QSR) business - it runs over 12,000 Dunkin' Donuts, Baskin-Robbins and Togo outlets - had continued to deliver excellent profit growth.
Back in April, the maker of Beefeater gin, Malibu coconut rum, and Tia Maria liqueurs, reported its overall drink volumes grew just one per cent in its first-half to end-February, while the weakness of the dollar and the euro against the pound would trim £30 million pounds ($53.78 million) off annual profits.
Allied said it maintained this guidance on the impact of foreign exchange on its annual profits.