SPIRITS VOLUME DOWN -0.9% IN SEPTEMBER

Based on NABCA data, Melissa Earlam of UBS reports that volumes declined by -0.9% in September despite relatively unchallenging year-on-year (yoy) comps of 3.3% in Sept. 2006. Volumes were up 4.9% in August from the previous year, while year-to-date case sales rose 3.2%, slightly below the 3.9% reported growth for the same period last year. DIAGEO. Diageo’s overall volumes were flat in the year ending September, but gained share in Scotch, Canadian whiskey, gin, cordials and cocktails. The company lost