Brown-Forman Q1 2017 results - Preview
Brown-Forman will announce its Q1 results on Wednesday
On Wednesday, Brown-Forman will report its first-quarter results. Here, just-drinks takes a look at the company's performance in the three months to the end of July:
- Back in May, Brown-Forman declined to comment on reports claiming it was looking to offload Finlandia vodka. It is now more than a decade since the company took full control of the brand.
- In the same month, Brown-Forman elected three new directors to its board as it prepared for the retirement of its company vice chairman.
- June brought news that the company had completed its purchase of The BenRiach Distillery Co, spending US$5.8m less than originally announced.
- Also in June, CEO Paul Varga defended flavoured whiskey as US figures showed previously-rampant growth for Tennessee Fire and Tennessee Honey fading.
- In July, new figures showed that the Jack Daniel's Tennessee Fire brand continued to see declines in the US off-premise.
- At the end of the month, Brown-Forman said it was to take its Spanish distribution in-house next year.
Brown-Forman's fiscal-2016 performance
- Net profits leapt 56% to US$1.1bn thanks in part to divestment of Southern Comfort and Tuaca to Sazerac in January
- Net sales slipped 2% to US$4bn (+5% underlying)
- Operating profits were up 49% to $1.5bn (+8% underlying)
Synonymous with the resurgent American whisky category and riding the wave of the on-going brown spirits renaissance, Brown-Forman is also facing rising competition and the promiscuous drinking habits...
The production and labeling of American whiskey has to be under the Title 27 of the US Code of Federal Regulations. American whiskey was traditionally produced within the boundaries of the US and can ...
Single malt whiskey by definition needs to be made at a single distillery. It is made from fermented mash made with malted grain....
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