USA: Fortune Brands sees flat operating profit and warns of tough 2001
Fortune Brands, the maker of the world's number one Bourbon, Jim Beam, released earnings for the fourth quarter in line with analysts' expectation yesterday. Although the company reported record fourth quarter sales up 3%, income before net charges was flat at $112m. For the full year diluted EPS before net charges climbed 15% to $2.29. However for the quarter EPS before net charges increased only 6% to $0.71.
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