Brown-Forman maintains sales growth in Q3 as fiscal-2018 poised for +6%-+7% - results

Brown-Forman has posted a slight dip in its top-line growth rate from the third quarter, although year-to-date sales were still up by high-single-digits.

The US-based spirits company said today that sales in the three months to the end of January were up in organic terms by 6%. The third-quarter performance follows a 7% increase in the first six months of fiscal-2018. For the nine-month period to the end of January, sales rose 7%.

In reported terms, sales in the nine months were up 9% in both the group's third quarter and year-to-date.

On a regional basis, the group's Emerging Markets reporting region saw sales jump by 15%, while the US - Brown-Forman's largest market - was up 5%. Russia was the star performer in the nine months, posting a 37% leap, while Japan was at the bottom of the pile, down by 7%.

"The results were well-balanced by geography and driven by 8% underlying net sales growth for our Jack Daniel's-led American whiskey portfolio," said CEO Paul Varga. "Our accelerated rates of growth keep us on track to deliver high quality, top-tier results in fiscal-2018."

Looking to the full-year, Brown-Forman reiterated its forecast that sales should come in up by between 6% and 7%.

To read Brown-Forman's official year-to-date results announcement, click here.

Brown-Forman performance trends 2013-17 - results data

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