Owner of Jack Daniel's, Brown-Forman records profit of $ 208 million

The American manufacturer of alcoholic beverages, owner of the Brown-Forman brand Jack Daniel's, ended the second fiscal quarter of 2015 (finalised on 31 October) with net income of $ 208 million, up 1% compared to the same period of the previous fiscal year. Diluted earnings per share was $ 0.97, up from $ 0.96 a year earlier.
The company reported that the result had a negative impact of exchange rate variations and reported that sales growth is in line with the expected for the quarter. In relation to the Brazilian market, the company reported only that sales follow with double-digit growth.
Net revenue advanced 5 percent in the fiscal quarter to $ 1.135 billion. The selling expenses increased 4% to $ 268 million. Spending on taxes, in turn, grew 5 percent, to $ 258 million. The company's gross profit increased 6% to $ 609 million.
In the period, weighed on the results of the company higher expenses with advertising and administrative costs. Advertising spending grew 11% to $ 123 million. The selling expenses General and administrative, have increased 10% to $ 178 million. Operating profits had fallen 3%, to $ 296 million.
For the fiscal year, the company reported that projects a 5 percent growth in sales and net income increase in operating profit to 6%.