Thursday, August 27, 2015

Profit from the owner of the Jack Daniel's goes up 4% in the fiscal quarter

The American manufacturer of distillates Brown-Forman, owner of Jack Daniel's whiskey, reported net income of $ 156 million, or $ 0.75 per share, in the first fiscal quarter, ended July 31. The result was 4% higher than in the same range as last fiscal year. High profit was associated with price adjustments and improvement in the mix of products sold in the period. The company also reported that suffered negative impact in the quarter related to the appreciation of the dollar against other currencies.
In the quarter, had sales revenue falling 2%, to $ 900 million. The company highlighted the 4% growth in sales of the line Jack Daniel's Tennessee Honey, from 28% in sales of Woodford Reserve line of 11% on El Jimador and 28% in sales of the brand Herradura.
Sales in emerging markets — including Brazil, Mexico, Poland, Turkey, Ukraine and countries in Africa — increased 11% in the period.
The Brown-Forman's operating profit increased 3% to $ 227 million. The result was due mainly to greater control of expenditure. Advertising and marketing expenses had reduction of 4%, to $ 95 million. General and administrative expenses were reduced by 1%, to $ 169 million. Profit before tax grew by 2% in the quarter, coming in at $ 218 million.
For the fiscal year 2016, the company estimates a growth of 6% to 7% organic sales and modest expansion in margins, with an increase of 8% to 10% in operating profit and earnings per share between $, and 3,40 $ 3,60.
Valor Economico
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