Jack Daniel’s boosts Brown-Forman
By James Atkinson
Brown-Forman Australia was a strong performer in the six months to October 31, according to its North American parent company, which has attributed its impressive global results to the success of the Jack Daniel's brand.
Brown-Forman Corporation increased net sales by 12% to $1.9 billion for the first six months of the 2012 financial year, while reported operating income increased 6 per cent to $432 million.
The company said the result was anchored by solid performance gains in the U.S. and stronger growth outside the U.S., in both developed and emerging markets, "most notably Germany, Mexico, Russia, the U.K., Turkey, France, Brazil, Australia and Canada".
"These gains more than offset soft performance in a few markets, such as Spain and Poland," it said.
Brown-Forman CEO Paul Varga said the company's performance was led by Jack Daniel's trademark, which grew volumes globally at a double-digit rate, and drove the company's widespread geographic growth.
"This performance was aided by compelling portfolio innovation, particularly in the Jack Daniel's Family, growth in our super-premium brands, and continued international growth of the brand portfolio," he said.
"Each of these is an important contributing element to our long-term growth strategy."