Allied Domecq Analyst Seminar.Business Editors BRISTOL, United Kingdom--(BUSINESS WIRE)--Aug. 29, 2002 Allied Domecq Allied Domecq PLC was an international company, headquartered in Bristol, UK that operated spirits, wine, and quick service restaurant businesses. History Allied Domecq was the result of a 1994 merger between Allied Lyons and Pedro Domecq.[1]. PLC ("Allied Domecq"), a leading international spirits, wine and quick service restaurant business, is holding an analyst seminar this afternoon in London where updates will be given on the progress we are making in our US spirits business, our recent marketing initiatives and in our Quick Service Restaurants business. Allied Domecq continues to build on the progress made in the first half of the year. Trading for the Group in the year will be in line with expectations. We have continued to invest strongly behind our brands and in consumer-led innovation with the launch of a major new marketing campaign for Ballantine's, a new cream liqueur A cream liqueur (not be confused with crème liqueur) is a liqueur that includes dairy cream among its ingredients. Examples include Baileys Irish Cream and Saint Brendan's, which use Irish whiskey; Amarula, which uses distillate of fermented South African marula fruits; Voyant Chai extension, Tia Lusso, and a range of ready-to-drink products. Our US business is benefiting from the positive actions taken earlier this year, and has maintained the encouraging trends now established in most key brands. We have continued our program to reduce stocks in the US supply chain. Europe, Asia Pacific and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. have continued the momentum of the first half. The integration of both Malibu and our recent wine acquisitions remains on track. These acquisitions have enhanced the growth profile of the business with increased exposure to growing categories. The key elements of our premium wine business are now in place and it is trading in line with the targets set out in our wine strategy. Our Quick Service Restaurants business is making good progress with a strong performance in Dunkin' Donuts Sources: Dunkin' Donuts is an international coffee and donut retailer founded in 1950 in Quincy, Massachusetts, U.S. by William Rosenberg. Corporate Profile History and Baskin-Robbins benefiting from its revitalized brand offering. In line with other companies, market and demographic dynamics over recent years have increased the cost of providing pensions. Allied Domecq will continue to grow earnings this year in line with expectations after absorbing increased pension costs of some (pound)15m, with a similar increase anticipated in the year to August 2003. Separately, Allied Domecq will continue to disclose financial information as required by FRS FRS abbr. Fellow of the Royal Society FRS, n “flexed rotated side-bent,” an osteopathic abbreviation used to describe vertebral position in cases of spinal dysfunction. 17. Recent stock market volatility has caused significant variation in the net pension liability under FRS 17 which, at its worst month end point, was around (pound)400m compared with (pound)33m at August 31, 2001. This compares with Allied Domecq's enterprise value of around (pound)7bn. In aggregate, the pension funds remain well funded and we do not anticipate having to materially increase Allied Domecq's cash contributions to the funds. Slide presentations will be available from the corporate website, www.allieddomecq.com, from 4:00 PM today (UK time). The preliminary announcement of results for the year ended August 31, 2002 will be made on October 29. Note It is expected that there will be around 1,107 million shares in issue at the end of the year. The weighted average number of shares in issue during the current financial year, and excluding those held by the Allied Domecq employee trust, is expected to be 1,066 million shares. Allied Domecq is the second largest spirits company in the world and a leading quick service restaurant operator. Allied Domecq's ordinary shares trade on The London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. under ALLD ALLD Automatic Line Leak Detectors ALLD Airborne Laser Locator Designator . Allied Domecq's ADRs trade on The New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under AED AED - Automated Engineering Design . Further information can be found at http://www.allieddomecq.com/. |
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