USA: Brown-Forman Earnings Up 11%
Brown-Forman Corporation (NYSE: BF) today reported record results for the quarter ended July 31, 2000. Net income and earnings per share rose 11% for the period, fueled by 10% growth in gross profit. First quarter operating income grew 9%.Accelerating rates of growth for gross profit and operating income reflected positive consumer trends for Brown-Forman's premium brands, as well as the benefit of currency hedging transactions. The company's first quarter hedging position was increased substantially in anticipation of overseas investments, including the acquisition of equity stakes for Finlandia Vodka and Glenmorangie Single Malt Scotch Whiskies. Hedging gains for the period more than offset the negative impact of translating weaker foreign currencies into U.S. dollars.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Craft spirits shake-out will be just the beginning
- How Treasury is rewriting the rule book - Comment
- The decline of the flagship beer brand - Comment
- Drinkable yogurt - The next drinks opportunity
- Coca-Cola India suspends bottling operations
- Diageo brands need "fixing and nurturing" - TWE
- Diageo revamps Gordon's gin bottle in UK
- SAB shareholders granted AB InBev vote split
- Craft Brew Alliance poised for AB InBev takeover?
- Pernod deal rescues Corby's FY
- The Next Seven Big Beverage Markets
- Global rum insights - market forecasts, product innovation and consumer trends
- Carlsberg AS (CARL B) - Financial and Strategic SWOT Analysis Review
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages