US: Fortune Brands boosts 1Q forecast
Fortune Brands, maker of Jim Beam Bourbon, said first-quarter earnings will be higher than expected due to strong demand, favourable foreign exchange rates and continued supply chain efficiencies.
Earnings per share before one-time charges and gains will grow at least 19%, CEO Norm Wesley said in remarks prepared for the Reuters Consumer Products & Retail Summit. That tops current analyst forecasts for gains of between US$0.76 and US$0.81 per share.
"The year is off to a great start for Fortune Brands. The strong momentum that fueled our excellent fourth quarter has continued into the early months of 2004," Wesley said. "Each of our businesses is performing at or above our expectations."
"For the full year, while it's still early, our performance so far reinforces our confidence that we will comfortably achieve our long-term growth goals and improve our returns, as well," he said.
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
Beam Global Spirits & Wine, the beverage arm of Fortune Brands, has extended its DeKuyper cordials and liqueurs portfolio in the US....
Fortune Brands saw its recently-acquired stable of wine and spirits brands help drive rising sales and earnings during 2005....
Fortune Brands has unveiled a fresh corporate identity for its drinks business, six months after snapping up a raft of premium wine and spirits brands from Allied Domecq....
Strong demand for brands such as Jim Beam helped Fortune Brands deliver an 8% rise in sales in its third quarter....
Fortune Brands, Inc. has declared a regular dividend of US$0.36 per share on its common stock....
US consumer goods group Fortune Brands has declared a regular dividend of 33 cents per share on the Common Stock, payable in cash on June 1, 2005, to stockholders of record at the close of business Ma...
Pernod Ricard is to acquire Allied Domecq....
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