Bacardi in poor spirits

The business posted revenue of $76.17 million for the financial year ending September 30, down from $77.89 million in 2009, while profit fell to $2.37 million from $2.66 million.

A Bacardi Lion spokesman said floods, official interest rate rises and an increase in the cost of living had affected sales of popular branded spirits and ready-to-drink (RTD) products.

"As throughout the fast-moving consumer goods and retail sectors, the alcohol market has seen some tightening over the last year due to poor weather, tighter fiscal conditions, higher fuel costs and general economic uncertainty," he said.

"Spirits and RTDs have seen their share of impact with a decline in volumes."

Formed in 2003, the Australian beverage alliance between Bacardi and Lion Nathan sells a portfolio of well-known brands.