US: Castle Brands sales jump helps slow nine-month losses

By | 20 February 2013

  • Nine-month net losses fall by 49% to US$1.9m
  • YTD net sales up by 20% to $30.6m
  • Operating losses cut by 41% to $1.7m
  • Q3 net sales jump 22% to $10.6m
Castle Brands has reported a further drop in losses

Castle Brands has reported a further drop in losses

Castle Brands is continuing its improved performance after reporting a drop in nine-month net losses, boosted by a strong performance from its spirits brands. 

Net losses in the nine months to the end of December fell by 49% to US$1.9m, the New York-based spirits and wine group said late last week. Sales in the period jumped by 20% to $30.6m, while operating losses were cut by 41% to $1.7m. 

In Q3, net losses fell by 62% to $0.48m, as sales leapt by 22% to $10.6m. Operating losses in the three months were cut by 44% to $0.4m.

The company flagged a strong performance from its Jefferson’s Bourbon and rye range, as sales from whiskey were up 66.4% in the third quarter.

Gosling's Stormy Ginger Beer case sales rose by 79.7% to 55,074 cases, the company said.

“Castle Brands continued to deliver on the key elements of our plan,” said Richard Lampen, Castle's president & CEO. “Case sales and revenues from our spirits brands increased strongly for the quarter and the year-to-date, well ahead of industry average. Cost containment continued to cause our operating margins to improve.” 

The company announced a similar drop in losses in its first-half in November.

Expert analysis

The Future of the Spirits Market in the US, to 2016

Future of the Spirits Market in the US, to 2016 is the result of Canadean’s extensive market research covering the Spirits market in the US.

Sectors: Company results, Spirits, Wine

Companies: Castle

There are currently no comments on this article

Be the first to comment on this article

Related research

SABMiller plc : Consumer Packaged Goods - Company Profile, SWOT & Financial Report

Canadean's "SABMiller plc : Consumer Packaged Goods - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a company overview, key facts, major products and servic...

Related articles

US: Castle Brands sinks deeper into red despite Q1 sales lift

Castle Brands has widened its Q1 losses despite an upturn in sales and a narrower operating loss.

US: PepsiCo to remove Naked Juice "all natural" label - report

PepsiCo is to drop the "all natural" claim from its Naked Juice brand after settling a lawsuit that said some ingredients are synthetic, according to reports.

US: Castle Brands wine withdrawal hampers FY

Castle Brands has seen its decision to reduce support for its wine brands hit the bottom line in its full year, despite a healthy rise in sales.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page