In mid-June, Brown-Forman released its full-year results for fiscal-2017. The group saw its sales in the 12 months to the end of April dip by 3% as profits came in down compared to the year-prior, when the bottom-line was boosted by a one-off divestment. Here, just-drinks considers Brown-Forman's performance over the past five years and looks at what lessons the wider spirits industry can learn from the group's recent history.