US: Earnings down in first quarter at Brown-Forman
US spirits and wines group, Brown-Forman, posted a profit of $36.1m, or 53 cents a share, for the first quarter to the end of July, down 8% from $39.2m, 57 cents, in the corresponding quarter last year. The company said it had absorbed the impact of shifting to selling spirits directly to retailers in the UK, its second largest market, during the first quarter. In May, the company announced it would be selling spirits directly from the beginning of August via a joint venture with Bacardi. It said the initiative, which brought a previous distribution deal with Diageo to a close, reduced first-quarter earnings by about 13 cents, largely due to a change in the way it booked revenue.
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
- Focus - Edrington's FY Performance by Brand
- Where Beer is Brewed Can Leave a Bad Taste
- Pernod relies on Indian whiskey to crack Africa
- Analysis - Storm clouds lift over Diageo Towers
- NPD: The Clear Soft Drink Trend is Back
- Comment - Diageo CFO to North America? Do the Math
- Diageo CFO Mahlan to head up N America
- Diageo sells "non-core" Gleneagles
- Former Bacardi exec takes De Kuyper CEO role
- Diageo lining up Gleneagles sale - report
- Global liqueurs insights - market forecasts, product innovation and consumer trends research
- The IWSR Company Profile 2014 – Remy Cointreau
- Edrington Group in Spirits (World)
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Global Tequila insights - market forecasts, product innovation and consumer trends research