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Time is at a premium at the moment, (the cricket is on)so I will take the lazy way out on recommending this one and just copy the last brokers note, I do expect a new one out any day with todays excelent news. Heres the Broker Buy note from Evo Bee Greg.....
The group have (sic) recently announced the acquisition of Extreme Beverage Company. The merger rationale seems excellent, especially given the nature and appeal of both the Players Extreme and Blavod brands to similar markets whilst the depth of Extreme�s distribution network in the US will give Blavod the much needed platform from which to grow. The management team is headed up by CEO Jeff Hopmayer, the original founder of Extreme Beverage. He is a proven entrepreneur with a very strong track record.



The US remains the only major untapped market for Blavod but also represents the biggest scope for potential especially given that the US is the most important vodka market in the world. In addition flavoured and ultra-premium vodkas are predicted to enjoy the greatest future growth with flavoured vodka now accounting for over 5% of the total vodka market.

Our forecasts are based on relatively conservative assumptions and are primarily driven off our own estimates of case sales. For the year to March 2004 we expect the total number of cases sold to be in the region of 49,000 (this is based on a full 12-month trading period from Blavod but only includes Extreme�s trading period from the 20th January) and expect this to grow to 229,000 in 2004/05e. Gross margin of c33% is low compared to the industry average of c60% and we expect the gross margin to grow as the group realises further cost efficiencies. Our forecasts assume breakeven in 2005/06e.

Valuation is less straightforward and historically the main valuation metric has been industry exit multiples for previous transactions and case sale ratios. These give a range of between 55p and 80p a share. However, there are risks and the group is still in the early stages of growing both the Blavod and Players Extreme brands and as such our price target of 55p reflects the lower end of our range. As the strength of the brands grow and they become more of a strategic asset, this could move the valuation towards the top end of our range in line with our DCF value of 85p. This is an appealing and attractive growth story."

Year to March 31st Sales (� million) Pre-Tax Profit (�million) Earnings Per Share (p)
2004E 1.8 -1.3 -5.4
2005E 9.5 -2.9 -4.7
2006E 17.9 0.3 0.4

Nb, the company have gone some way today to getting a foothold in the US market , see todays RNS on next post.

cheers GF.

Up on the bid.

Interesting transaction just before midday - about 0.8% of the companies total shares bought in one transaction ...... must something distilling or someone anticipating good interims next month ..... as usual time will tell but I'll have a Royal Tokaji whilst I am waiting ...

Cash call +director buys - oh dear so they've now got c.360k cash to strengthen the books - and pay-off some debts I suspect. Up nearly 5% so the MM's must think folks will buy now.
Looks like small-beer/petty-cash to me....at a sp of 2.75 pence. . . . . this is really times-low. I wonder there won't be another cash-call.... Grief, this is Xmas run-up... I could understand it if it was Autumn and they needed to provide a large shipment (etc.), but this IS their BEST time, for getting "in" the Money!
- - - No bonus for Execs. - - -
Still, shareholders can "drink to improvement", eh?
Let's hope so, but I fear Advertising from the Big Boys and a non-specific USP means this is about right for price/value.

Well, situation is somewhat better than earlier in the year. Disposal of the business and assets of Blavod Extreme Spirits USA, Inc. completed. Now all the placed shares have been taken by institutional investors, and Directors and key employees of BES. Nice to see Directors / employees stumping up their own money. Things should become a little clearer when the Interims come out later this month.

Perhaps the heading should now be:
BLAVOD EXTREME SPIRITS, Now Concentrating on this side of The Pond.

Interims out this afternoon. No surprises. Large losses due to US operation. That has now been disposed of. With the UK operating company making a profit of 56.8k, 354k recently raised via placing (including the Directors subscribing for 96.5k), and the current sales of all the major brands showing positive trends, then look forward to a good H2 report.

A year ago their sp was 14p.Shares are being punted by TW steer clear for the time being all to do bad track record.

Yeep, the SP has fallen considerably. Company was overvalued and loss making before. Now with recent disposal of US operation then it should be profitable in present half year accounting period. Cockspur profile seems to be rising. Directors subscribed to more than a quarter of recent placing. As always, time will tell.....

PS: Probably is a negative point if TW has tipped it .... but perhaps he isn't wrong everytime?

So, despite TW 'tipping' it, then the SP has started to move up this morning .... helped by a preliminary update on Christmas trading.

And reasonable rise today - helped by the Barclays RNS....

Although describing the trading environment as difficult and uncertain, the company stated it is optimistic for the second half noting that Blavod Black Vodka export sales have improved, its enlarged portfolio has now been successfully integrated, costs are not expected to rise further as a full complement of sales people is now in place and that it is fighting to regain the lost black vodka distribution in the UK. We understand this lost distribution was the result of a well-financed rival product introduction, the threat of which looks to have since been diminished by a legal intervention from Blavod, and that Blavod is hopeful of winning the lost accounts back in quite short order.

However, despite these positives the results statement concluded;

For the full year to 31 March 2010 the Board expects to report results significantly ahead of last year. However, given the uncertainties and challenges set out above in relation to the second half of the year, at present the Board expects the full year results to be slightly below market expectations.

www.UK-Analyst.com

sell.

.....The company remains confident for the long-term and we remain of the view that its continuing sales growth is seeing it become increasingly more important in industry circles. On valuation metrics typically used in the industry (based on multiple of cases sold), a 3.29 million market capitalisation significantly undervalues the company being a 58.9% discount to forecast current year sales and not overly demanding forward multiple of earnings. Therefore, at 3.75p, our stance remains buy UK-Analyst

Just had a small punt on these today. I wouldn't bet the farm on them, just yet, but they could perhaps be on the way back up.

Good analysis on the current state of play here by mg78 on another bulletin board;


BLAVOD WINES & SPIRITS

Operating in the alcoholic beverage sector, London-based microcap Blavod Wines and Spirits (BES) owns and distributes a number of premium drinks brands.

Offering perennial disappointment to the long-term shareholder, BES has a chequered history; often offering impressive increases in sales/revenue against a background of increased costs and expenses. It has only flirted with net profitability on one occasion.

However, in more recent times, having successfully fought through a lengthy recession, BES has now proven that it is a resilient, dogged player, emerging to hold its unique place for over a decade, within a sector dominated by industry giants.

BES not only serves the UK domestic multiples, on and off license markets, but continues to have overseas ambitions with its products now marketed and sold worldwide - including the U.S. and Russia. At the time of writing, Spain and Australia are the latest territories to be targeted with a "significant order" having been signed in Australia for the 625-store-strong exclusive distribution of the most recently launched and wholly owned brand, 'Red Leg Rum'.

With the departure of the long-serving M.D. in late 2011 (which some deemed overdue) the business now appears to be steadying somewhat after the appointment of the former MD for Diageo UK, Don Goulding.

There is the burgeoning view that Blavod may have ridden out the very worst of the storm it has faced and could now be set to emerge from it's darkest hours with decision making at the company, over the past 12 months in particular, appearing to have improved and 'rationalized'.

With H1 2013 results inflicted by sizable 'non-recuring costs', the long awaited improvements sought by shareholders may actually already be happening and with the traditionally stronger second half of the year indicating a "significant" order from Australia, BES could perhaps be on the verge of showing that modesty and rationalism is a more reliable, if more gradual, route to success.

Going forwards, with the company deciding to concentrate more fully on developing and marketing its own, wholly owned brands, efficiency, improved back office and margins may begin to finally appear at the bottom line for this company.

In recent months the lengthy 5 year transaction for the Blackwoods suite of brands to become 'fully owned' was complete, and as such these quality brands will now offer a meaningful incentive for the company.

The share price has over time, in the face of perceived failure, disappointment and boredom, been through successive periods of punishment and neglect.

As of 12/08/13, with a sp of 0.675p and with 306,102,507 shares in issue, the company is valued at just c.£2.07M

........................................................................................................................
........................................................................................................................

Drinks brands, wholly owned are:

Blavod Black Vodka
Blackwoods Vintage Gin.
Blackwoods Gin 60% Limited Edition.
Blackwoods Premium Nordic Botanical Vodka.
Redleg Spiced Rum
Diva Vodka
Jago's Vinilla Vodka Cream

BES also acts as distributor to Fernet Branca and several other spirit brands in U.K. BES also recently claimed global distribution rights to the 'King of Soho' alcoholic drinks range.
........................................................................................................................

Result of AGM and Update on Trading
RNS
RNS Number : 2656P
Blavod Wines and Spirits PLC
30 September 2013





Blavod Wines & Spirits PLC

("Blavod" or the "Company")



Result of AGM and Update on Trading



Blavod Wines & Spirits plc (AIM: BES), owner of premium drinks brands including Blavod Black Vodka, Blackwoods Gin and Vodka and RedLeg Spiced Rum, announces that at the Group's Annual General Meeting held earlier today all resolutions were duly passed.

Don Goulding, Executive Chairman of Blavod, said:



" I'm pleased to report that we are continuing to generate increased the levels of revenue from our owned brands and this, coupled with the careful management of our financial resources, means we remain on target to achieve monthly breakeven in the early part of next financial year"



Importantly, we have continued to increase the level of sales of RegLeg Rum both in the UK and abroad and this gives us confidence that the work we have done to re-design some of our other brands will be well received in the market. In October 2013 we will be launching the redesigned Blackwoods Gin 60% and Blackwoods Vodka brands into the UK, which will be retailed through

a number of on-trade outlets as well as UK grocery multiples. Beyond this, we are working on the re-design of Jago and Diva and expect these will be launched in the coming year."



Progressive Research has initiated research coverage on Blavod Wines & Spirits PLC and the report will be able to be downloaded in due course from: www.progressive-research.com

The Group's annual report and accounts for the year ended 31 March 2013 were posted to shareholders on 3 September 2013 and are displayed on the Group's website,

Thank goodness for this;

"A study has found that a daily tipple of alcohol improves memory in most elderly people. Researchers found that 80% of pensioners will have improved memory and learning skills as a result of regular moderate drinking. The anti-inflammatory properties of alcohol are also believed to protect against dementia and stroke. The Times"

On the move now following on from that positive RNS this afternoon.

Just added a few here as we are approaching the 'silly season' and it's a very opportune time for BES to launch the redesigned brand which will be available in Tesco, Sainsburys etc.

"In October 2013 we will be launching the redesigned Blackwoods Gin 60% and Blackwoods Vodka brands into the UK, which will be retailed through a number of on-trade outlets as well as UK grocery multiples."

BLAVOD: BRAND DESIGNS–Initiation of coverage
Blavod Wines & Spirits | Published on 16/10/2013
Blavod is in a transitional phase as it moves its operating model solely into the development of premium own brand spirits. Having recently outsourced distribution, Blavod can now focus on the added-value activity of creating desirable, profitable, international brands, backed with a pipeline of new product development. Successful brand incubation can attract larger industry players prepared to pay multiples of the current market capitalisation of Blavod for a brand proposition they can leverage globally. The shares do not currently reflect upside potential with the new model as yet unproven.

Full analysis available on www.progressive-research.com

Used to be a Tom Winnifrith favourite.