Blavod's black day as profits vanish

VODKA and Sambuca firm Blavod Wines & Spirits has issued a profit warning and said its products lost out to heavily discounted rivals over the Christmas period.

The firm – whose brands include Blavod Black Vodka, Borghetti Sambuca and Cockspur Rum – said sales were "well below expectations" in the three months to 31 December. It added that higher prices on several key products meant customers were drawn to competitor promotions and sales volumes grew by just 1 per cent compared with the same quarter a year earlier.

It said full-year profits would be "severely affected", predicting "break even", compared with profits of 185,000 the previous year.