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Asia Pacific

Key financials

2013 Reported
(restated)* £ million
Exchange
£ million
Aquisitions and disposals
£ million
Organic movement
£ million
2014 reported
£ million
Reported movement
%
Net sales 1,572 (112) (7) (106) 1,347 (14)
Marketing spend 356 (27) - (24) 305 (14)
Operating profit before exceptional items 381 (35) (19) (44) 283 (26)
Exceptional items (1)       (276)  
Operating profit 380       7 (98)

"Performance in Asia Pacific was impacted by a weaker trading environment in China and South East Asia and this top line weakness and negative country mix impacted operating margin, which, despite a reduction in overheads, decreased 136bps. In China the effects of the government’s anti extravagance campaign severely impacted the on trade channel, and continued to affect performance of both our Chinese white spirits and scotch businesses, while South East Asia was impacted by tax increases and social unrest in Thailand and destocking in other markets and channels. Despite the challenging trading environment we gained share in scotch in both Thailand and China. Elsewhere, Korea, Japan, GTME, Taiwan and India delivered good growth and we gained share in scotch across the countries. Strong growth of scotch malts in Taiwan and successful innovation launches in super and ultra premium scotch segments contributed to another year of double digit growth of the reserve brands."

  Organic volume movement *
%
Organic
net sales movement
%
Reported
net sales movement
%
Key markets and categories      
Asia Pacific (5) (7) (14)
South East Asia (25) (19) (25)
Greater China (20) (31) (33)
India 22 42 8
Global Travel Asia and Middle East 18 19 15
Australia hub (2) (3) (17)
North Asia 2 4 (2)
       
Spirits ** (5) (11) (15)
Beer (1) 2 (9)
Ready to drink 1 (1) (14)
       
Global and local leaders**:      
Johnnie Walker (13) (11) (14)
Windsor (5) 1 1
Smirnoff 4 (3) (13)
Baileys 12 11 3
Guinness (1) 3 (9)

* Organic equals reported movement for volume except for Greater China (21)% and Australia (3)% reflecting the termination of the distribution agreement with Jose Cuervo.

** Spirits brands excluding ready to drink.

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