just The Preview - Beam Inc Q2 & H1
Beam releases its H1 results tomorrow
Beam Inc will release its second-quarter and first-half results tomorrow (8 August). Here, just-drinks takes a look at the company's highs and lows in the three months to the end of June.
- The Kentucky-headquartered group revealed a number of product launches in the quarter. Pinnacle Vodka Rainbow Sherbet and Jim Beam Distiller's Masterpiece Bourbon were launched in April, as well as the twin launch of Cruzan Key Lime Rum and Cruzan Passion Fruit Rum. Jim Beam Lime Splash followed at the end of April while in June, Beam launched Pinnacle Strawberry Shortcake and Sourz Spirited Toffee Apple.
- In May, the company revealed that the first-quarter furore over the lowering of Maker's Mark's abv had helped boost the brand's sales.
- An analyst warned that emerging markets could trip up Beam this year despite an expected continuation of growth in developed regions.
- In June, another analyst lined up Beam in Pernod Ricard's firing line, saying the French company could swoop when Beam becomes an easier acquisition target from next month when lighter taxes kick in for any potential buyer.
- Pryce Greenow was promoted to the newly-created role of MD for emerging markets, South America, as Beam upped its focus on the region.
In the first three months of 2013:
- Q1 profits jumped by 22.6% to US$103.5m
- Net sales rose by 8.2% to $577.7m
- Operating profits were up 36.5% to $179m
To read a preview of Beam's Q1 results, click here.
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