Lucas Bols reports substantially higher net profit

Lucas Bols’s revenue for the financial year ended 31 March 2016 amounted to € 72.6 million, a decrease of 6.5% compared to € 77.7 million in the previous financial year. The impact of currencies was € 0.4 million negative, as the effect of the lower Japanese yen, Russian rouble and Australian dollar was largely mitigated by a stronger US dollar.

The decline of 5.9% at constant currency was influenced by the one-off reduction of in-market stocks in Australia and South East Asia. Furthermore in the second half of the year revenue was negatively impacted by one-off stock reductions in the US following the merger of two main distributors and as a result of increased efficiency within the supply chain of Lucas Bols. Excluding one-off effects and at constant currency, revenue was 3.5% below last year, mainly as a result of the declining Dutch market for domestic spirits and lower shipments to Asia.

Gross profit

Gross profit for the full year 2015/16 amounted to € 42.7 million, a 9.0% decrease compared to the year before (€ 46.9 million). The gross margin decreased 70 bps organically, mainly as a result of lower margins at the regional brands.