just The Preview - Beam Inc's Q3 & YTD
Beam will release its YTD results on Thursday
Beam Inc will release its third-quarter and year-to-date results on Thursday (31 October). Here, just-drinks takes a look at the company's highs and lows in the three months to the end of September.
- In July, Beam lined up a new president for its Asia Pacific and South America unit, with Nicholas Fink set to replace Phil Baldock.
- In August, Beam unveiled an extension to its Effen vodka range. Effen Salted Caramel Vodka joins Effen's cucumber, black cherry and raspberry flavours. A few days later Beam said it was launching an extension to its Cruzan rum portfolio, Cruzan Velvet Cinn, as well as Knob Creek Smoked Maple, the first flavour extension for its Knob Creek Bourbon brand.
- In the same month, the company said it planned to build a 600,000-square-foot distribution centre near its Kentucky bottling plant. The centre will deal exclusively in Beam's own-label brands.
- The Bourbon boom saw one analyst increase Beam's chances of being taken over by a bigger rival. CLSA's Caroline Levy said the likelihood was now 50%, up from 35%.
- Also in August, Beam announced the launch of Red Stag by Jim Beam Hardcore Cider.
- Beam then cancelled a distribution deal with CEDC in Poland to sign a new agreement with Stock Spirits Group. The new deal follows CEDC's takeover by Russian Standard.
- In September the company unveiled Jim Beam Maple. The new flavour comes after the launch of Jim Beam Honey, which was launched last year.
- The group also expanded its Skinnygirl range with four new wine varietals.
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
- H1 net profits up 5% to $187.4m
- Sales increase 7.6% to $1.21bn
- Operating profits jump 32.4% to $337.3m
To read a preview of Beam's H1 results, click here.
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