Castle Brands, the international spirits and fine wine group, has cut losses and increased sales in the first nine months of its fiscal year.
Net losses for the nine months to the end of December 2009 fell to US$1.3m, against $12.7m in the same period of the previous year, said Castle Brands today (16 February).
Net sales for the nine months rose to $22.1m, from $20.2m a year earlier.
The group, which owns Gosling’s rum and Jefferson’s Reserve Bourbon, said it cut losses in third quarter to $237,000, from $2.2m in the prior year.
“Our continued focus on improving margins and controlling expenses moved us closer to profitability this quarter,” said Castle president and CEO Richard Lampen.
Chief operating officer John Glover added: “Our Bourbon sales continued to grow during the quarter. To support future growth, we acquired in December 2009 a rare stock of aged Bourbon to provide us with a guaranteed supply for our Jefferson’s and Jefferson’s Reserve very small batch Bourbons.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThird quarter net sales rose to $7.5m, from $6.9m a year earlier.
Subscribe to Just Drinks for just £1 for 1 month
Stay ahead with unbiased news, expert commentary, and in-depth features on global topics.
As a trusted provider of data and insights, Just Drinks collaborates closely with industry leaders and professionals to offer unique thought leadership and analysis. Gain a deeper understanding of the apparel industry’s trajectory and the priorities shaping the profession.
What’s included in your subscription:
- Personalized Access: Secure login to Just Drinks
- Industry News & Expert Commentary: Timely updates and exclusive C-level interviews.
- Case Studies & Deep Dives: Real-world applications and in-depth analyses.
- Exclusive Subscriber Newsletter: Weekly top features, plus a new thematic report and webinar.
Ready to stay informed?
