42 Below makes $2.7m half-yearly loss

Vodka maker 42 Below, the subject of a takeover offer from global liquor giant Bacardi, said yesterday that half-year earnings before interest, tax, depreciation and amortisation (ebitda) was a loss of $2.7 million. This was on the back of revenue of $7.2 million, against an ebitda loss of $2.5 million on revenue of $7.3 million a year earlier.

Bacardi, whose cash offer totals $138 million, plans to sell the vodka in more than 130 countries. A committee of independent directors has confirmed they would ask shareholders to accept the offer.