just The Preview - Beam Inc's Q4 & FY
Beam will release its FY results today
Beam Inc will release its fourth-quarter and year-to-date results later today (5 February). Here, just-drinks takes a look at the company's highs and lows in the three months to the end of December.
- At the beginning of October, Beam announced the launch of a hand-selected batch of its Booker's Bourbon. It also launched a Triple Wood expression of its Laphroaig Scotch whisky brand.
- In the same month, Beam said it had invested GBP3m (US$4.9m) to open three new warehouses in which to age its whiskies in Scotland. The warehouses, near Glasgow, will help Beam up its holding capacity in Scotland by almost 20%.
- The company offloaded its Lewiston, Maine bottling plant to spirits maker Sazerac in October. The site was previously owned by White Rock, which ceased trading after selling Pinnacle Vodka and Calico Jack to Beam for US$605m in 2012.
- In November, Beam's travel retail distributor, Maxxium, opened a replica Jim Beam still house in Frankfurt airport ahead of the Christmas season.
- In December, Beam launched Jim Beam's first single-barrel Bourbon.
In the first three months of 2013:
- Profits jumped by 22.6% to US$103.5m
- Net sales rose by 8.2% to $577.7m
- Operating profits were up 36.5% to $179m
- Net profits up 5% to $187.4m
- Sales increase 7.6% to $1.21bn
- Operating profits jump 32.4% to $337.3m
- Net profits down 1% to $272.2m
- Net sales up 3% to $1.81bn
- Operating profits down 16% to $482.2m
To read a preview of Beam's YTD results, click click here.
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