US: Brown-Forman Q2 figures on the climb
Brown-Forman Corp. yesterday announced a rise in sales and net profit for the second quarter. The company credited solid growth from Jack Daniel's and Southern Comfort, as well as a weaker US dollar for the figures.
Net income for the company, which also sells wine, Lenox china and Hartmann luggage, grew by 8.8% to US$88.2m for the quarter to 31 October, compared to US$81.1m year-on-year. Sales also rose, by 4.9% to US$725.2m from US$691.6m.
Brown-Forman pointed out, however, that the increases were offset partially by a rise in advertising expenses, higher pension costs and lower profits at some of its wine brands.
The company confirmed its forecast for fiscal 2004 earnings, ranging from US$4.10 to US$4.30 a share.
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