just The Preview - Constellation Brands' Q4 & FY
Constellation Brands will release its full-year results on Wednesday
Constellation Brands will report its fourth-quarter and full-year results on Wednesday (April 9). Here just-drinks takes a look at the group's highs and lows in the three months to the end of February.
- In December, the company said it was retaining Republic National Distributing Company as its distributor in nine US markets until 2020 after signing new deals.
- In January, Constellation unveiled two new variants of its Svedka Vodka brand - Mango Pineapple and Strawberry Lemonade - in the US.
- At the end of the month, an analyst predicted that “meaningful brewing acquisitions” for the group are likely after the CEO of Crown Imports talked up the beer unit's chances of moving into the craft category.
- In February, Constellation said it wants to double its business in Asia in the next three years as it launched Svedka in India.
- In the same month, the company said it is expanding Corona Light on draught to around 35 US markets, with plans to trial Corona Extra on tap.
In the first quarter of the company's fiscal year:
- Comparable net profits in the three months to the end of May fell by 3% to US$74m
- Net sales rose by 6.1% to $673.4m
- Operating profits decreased by 5% to $104m
- Net profits in six months to end of August hit $1.57bn
- Net sales rose to $2.13bn
- Operating profits jumped to $1.74bn
- Net profits in nine months to end of November up 480% to $1.8bn
- Net sales climbed by 66% to $4bn
- Operating profits up 434% to $2.1bn
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