Brown-Forman's income increased by 7% despite sales not growing at the same rate as last year, said the company as it reported its first financial quarter results for the three months ending July 31 2014.
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Brown-Forman shareholders celebrated yesterday the success of its 2014 financial results which it said was "one of the company's most successful years in its 144- year history."
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Brown-Forman reported that for the fiscal year end on April 30, 2014, net sales increased by 4% and operating income increased by 8%, largely driven by organic growth with the Jack Daniel's brand.
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Last week Rémy Cointreau' stocks spiked on speculation that Brown-Forman was a possible interested buyer, however reports have surfaced that Brown-Forman is a possible bidder for the Whyte & Mackay business which is currently up for sale.
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The proposed bill challenging the definition of Tennessee whiskey was temporarily laid to rest earlier this week as state lawmakers voted to shelve consideration of the bill until the summer.
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Both Diaego and Brown-Forman have made headlines in recent days over a battle that is brewing in the south of the US over what exactly is the appropriate definition of Tennessee Bourbon whiskey.
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Jack Daniel's brand grew underlying sales 10%, helping Brown-Forman Corporation continue its momentum to post further gains in its third quarter financial results which were released yesterday.
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Mergers and acquisitions are the name of the game at the moment in the spirits world and whiskey brands are taking centre stage.
Read more...Ready for the next instalment of what's gone on in the wine trade in 2012?
Read more...Online Amazon-style wholesaler Ooberstock has bumped up its portfolio with brands from Diageo, and UK cider company the C&C Group.
Read more...Stricter rules governing how images of under 25s are used in alcohol marketing, new guidelines on promoting lower strength drinks and closer ties with the Advertising Standards Authority are all key facets of the Portman Group's revised code of practice.
Read more...Ooberstock, the new Amazon-style wholesaler, has added a comprehensive spirits range to its growing portfolio.
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David Cox has stepped down from his post as European director of New Zealand Winegrowers.
Read more...London Cocktail Week is to partner Covent Garden's Seven Dials, which will become the official hub for the event in its third year.
Read more...Major alcoholic drinks producers have agreed to ramp up their voluntary advertising regulations in Europe.
Read more...Jack Daniel's is offering trade outlets the chance to buy their own personalised barrel of Tennessee whiskey.
Read more...Thierry's has boosted its senior management team with the appointment of Martin Horner as sales director and Yobana Bermúdez in the newly-created role of technical manager.
Read more...The Portman Group, an independent body that considers complaints about alcohol marketing, is calling for two members to join its Independent Complaints Panel.
Read more...Former Brown-Forman chief executive and chairman Owsley Brown II died earlier this week in Kentucky.
Read more...Treasury Wine Estates has named Angus McPherson as the new managing director of Australian wine brand Rosemount.
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