USA: Brown-Forman Earnings Up 11%
Brown-Forman Corporation (NYSE: BF) today reported record results for the quarter ended July 31, 2000. Net income and earnings per share rose 11% for the period, fueled by 10% growth in gross profit. First quarter operating income grew 9%.Accelerating rates of growth for gross profit and operating income reflected positive consumer trends for Brown-Forman's premium brands, as well as the benefit of currency hedging transactions. The company's first quarter hedging position was increased substantially in anticipation of overseas investments, including the acquisition of equity stakes for Finlandia Vodka and Glenmorangie Single Malt Scotch Whiskies. Hedging gains for the period more than offset the negative impact of translating weaker foreign currencies into U.S. dollars.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 15 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Whatever happened to binge Britain? - comment
- The dangers of squaring up to your competitor
- The US beer market - A level playing field for all
- How to turn a domestic spirit into a global brand
- Remy Cointreau's Q2 and H1 - preview
- Sidney Frank CEO to head Clooney's import co
- Diageo sells off United Spirits' Bouvet Ladubay
- Captain Morgan distillation trial queried by USVI
- Irish whiskey brands could fail without bulk
- Sazerac sues Brown-Forman over Tennessee Fire
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market to 2019 - Market Size, Development, and Forecasts