Blavod eyes return to black as gin brand expands
Drinks firm Blavod has assured investors that its return to the black is on track as it revamps its stable of brands.
The group, which earlier this month reported wider losses of £619,000 for the year to March, said it has made good progress in trimming its cost base and is preparing to relaunch a number of labels that it bought from the administrators of Shetland Spirit Company in May.
The deal saw Blavod take over the Blackwood’s gin and vodka brands, along with Diva vodka and Jago’s liqueur. Supermarket giant Tesco is to stock Blackwood’s in 566 branches from the end of this month, up from its current presence in 192 stores.
Chairman Don Goulding said: “The board remain focused on reaching profitability and the first step is to achieve monthly breakeven, this is targeted for the early part of next financial year.”