Blavod Wines loses £619,000

Shares in Blavod Wines and Spirits tumbled over 11 per cent yesterday on news that the drinks brands firm had made an operating loss of £619,000 for the year ending 31 March. Of the losses, £299,000 was due to the cost of an acquisition which was not completed and £320,000 related to ongoing activities. The maker of Blavod Black Vodka reported that sales had fallen 17 per cent to £3.7m from £4.5m in the previous year. “We will devote our cumulative skills and experience to develop our own brands to fill this gap and to get the industry and public recognition that could transform the fortunes of the Group,” said Blavod executive chair Don Goulding.