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US: National Wine & Spirits profits up

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US distributor National Wine & Spirits enjoyed rising sales and earnings last year, it reported yesterday (26 June).

The company, which handles products for companies including Diageo, Moet Hennessy and Brown-Forman, saw net income more than double to US$5.4m for the year to 31 March. 

It attributed the leap in earnings to a payment of US$8.3m it received after an unnamed supplier ended its distribution agreement with the company.

Revenues rose 30% to US$717.6m thanks to sales in Illinois after the acquisition of local wholesaler Johnson Brothers last year.


Sectors: Spirits, Wine

Companies: Diageo, Brown-Forman

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