The Dutch group said it “experienced one-off stock reductions in Australia and South East Asia” in November and the same trend in the second half-year in the US as well, due to the merger between its two main distributors.
A statement read: “Although these developments impact the company’s results on the short term, the underlying in-market performance in these markets remains healthy and in-line with expectations.
“The significant steps Lucas Bols is taking to optimise its route to market and to improve the longer term performance of the brands have a short term pressuring effect on top line revenue.”
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