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Fortune Brands, maker of Jim Beam Bourbon, has posted a rise in quarter four profits. The company announced an increase in profit of 19% year-on-year, to US$156.4m, beating analysts' expectations.

Fortune credited acquisitions and the weaker dollar for the rise.

Net sales rose by 16% to $1.66 billion, with acquisitions adding 4%, and 3% coming from the benefit of the weak dollar. According to Reuters Research, analysts on average had expected sales of $1.53 billion.

In a conference call with analysts, chairman and chief executive Norm Wesley said that the company would also like to make more acquisitions in the home improvement and spirits businesses.

Fortune said that it is looking to "comfortably" reach its long-term goal of double-digit growth in earnings per share before one-time items.


Sectors: Spirits

Companies: Fortune Brands

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