US: Jack boosts Brown-Forman earnings
The continued growth of Jack Daniel's and Finlandia vodka fuelled rising second-quarter profits at US wine and spirits giant Brown-Forman.
The company saw gross profit for the period to 31 October rise 8% to US$357.4m on the back of a 6% increase in revenues to US$665.8m
"These strong results reflect organic profit growth from the company's premium global portfolio, led by another outstanding performance from Jack Daniel's," the company said.
Brown-Forman said worldwide depletions of Jack Daniel's were "in the high-single digits" for the quarter, with mid-single digit growth in the US and the UK and double-digit gains in markets including Germany, France and China.
Finlandia delivered double-digit depletion growth for the quarter, the company said, growing particularly strongly in Poland and Russia.
Brands from Brown-Forman's super-premium stable including Californian wine Sonoma-Cutrer and Woodford Reserve bourbon "each posted double-digit depletion growth for the quarter", the company added.
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