US: National Wine & Spirits profits up
National Wine & Spirits has posted a rise in Q2 revenues and net income. The US wine and spirit distributor saw revenues in the three-month period increase to US$130.6m compared to US$128.7m in the corresponding quarter last year.
Operating income reached US$3.7m compared to a US$0.1m loss during the prior year's quarter and net income was up to US$3.9m from a US$2.3m loss.
"The company's net income and EBITDA showed increases from the prior year's quarter due to increased gross profit on stable wine and spirits case volume, receipt of an arbitration award, and increased management fees," a statement said.
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