Chennai, Oct 26: Mcdowell & Co Ltd, the UB group company, has recorded a 104 per cent jump in net profit to Rs 9.4 crore for the first half of the financial year 1998-99, despite a 3 per cent drop in sales. This is against a net profit of Rs 4.6 crore posted in the corresponding period last year.Other income dropped sharply from Rs 127 crore to Rs 31 crore. Interest costs dipped 39.7 per cent to Rs 14.3 crore, against Rs 23.7 crore last year. Depreciation was down to Rs 4.3 crore from Rs 4.9 crore.
The dip in the interest costs has been the major factor which has boosted the bottom line of the company. McDowels, which competed 100 years last year, has decided to concentrate on its core business of liquor and related products which resulted in the hiving off of the polymers division. The company's flagship brands include McDowell's, Black Dog, Signature, Single Malt, Diplomat and Blue Riband.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
Printer-friendly page
