Whiskey demand drives Castle Brands full-year
- FY net sales up 25% to US$72.2m
- Operating profits (EBITDA) expected to triple
- Whiskey volumes drive performance
- Vodka volumes dip
- Overall spirits volumes up 9% to 426,340 cases
Castle Brands saw strong growth in rum and Bourbon
A 30% jump in whiskey volumes has boosted full-year sales for New York spirits producer Castle Brands.
The company's core Bourbon, Jefferson's, led the charge, with shipments up 45%. Jefferson's accounted for about 55% of Castle's 109,990 whiskey case sales in the 12 months to the end of March.
Meanwhile, rum volumes jumped by 5% to 180,698 cases as shipments of Goslings Rums in the US increased by 8%. Vodka volumes, however, dropped back by 6% to 43,608 cases.
The performance saw Castle's FY sales climb by 25% to US$72.2m, and the company said EBITDA is expected to at least triple, from US$1.1m in the year prior to be in the range of $3.3m-$3.6m.
Castle Brands did not disclose net profits in yesterday's preliminary results. In last year's fiscal FY results, the company posted a $3.8m loss, down from an $8.9m loss in fiscal 2014.
Sales of Gosling's Stormy Ginger Beer have jumped markedly over the past years. Yesterday's 56% jump to 1.1m cases follows a 67% increase last fiscal year.
Castle Brands' share price jumped 9% yesterday after the release of the preliminary results.
To read the company's full results, click here.
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