US: Economic uncertainty hits Fortune income
Net sales were US$1.58 billion, up 5% and operating income was $240 million, up 11%.
"Fortune Brands once again delivered very strong operating results in a quarter marked by lingering economic uncertainty and poor weather," said Fortune Brands chairman & CEO Norm Wesley. "Our brand investments continued to pay off in hot new products and share gains in key markets. We're adding to that growth with our high-return strategic moves, expanded customer relationships and sustained improvements in productivity and asset returns."
He said: "Our Jim Beam-ABSOLUT alliance underpinned steady results in spirits and wine and our aggressive cost reductions continue to drive the ongoing profit turnaround in our office products business.
"Fortune Brands is on track for another excellent full-year performance," Wesley said. "The strength of our first half results combined with our great brands and successful strategy enhance our confidence that we'll achieve our long-term goals of double-digit EPS growth and improved returns for the full year. We're targeting double-digit growth in EPS for the third quarter, as well."
As Pernod Ricard, Allied Domecq and Fortune Brands close in on the biggest drinks industry deal since the sale of Seagram, opinion about how the deal will be structured and who stands to win and lose ...
V&S Absolut Spirits saw sales of its flagship vodka Absolut rise 9% last year on the back of surging sales outside the US....
Fortune Brands has unveiled a fresh corporate identity for its drinks business, six months after snapping up a raft of premium wine and spirits brands from Allied Domecq....
V&S Group has developed a TV advertising campaign for flagship vodka Absolut in the US....
Absolut Vodka has broken its record for full year production....
Strong demand for brands such as Jim Beam helped Fortune Brands deliver an 8% rise in sales in its third quarter....
Fortune Brands, Inc. has declared a regular dividend of US$0.36 per share on its common stock....
The Absolut Spirits Company has acquired a controlling interest in US-based rum, brandy and wine supplier Cruzan International....
- Will US consolidation leave craft alcohol exposed?
- Are consumers getting tired of consuming?
- Brown-Forman's march on premium whisk(e)y -Comment
- Should Boston Beer Co put up the For Sale sign?
- The global tailwinds behind Heineken - Analysis
- Brown-Forman to buy BenRiach Distillery Co
- AB InBev snaps up Italy's Birra del Borgo
- Smirnoff Ice Electric flavours - NPD
- US craft beer to hit saturation soon - Koch
- Bacardi rolls out new global Martini ad - video
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Emerging Drinks Industry Trends