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Brown-Forman records $3,784m annual net sales

DBR Staff Writer Published 06 June 2013

Brown-Forman has reported net sales of $3,784m for the full year ended 30 April 2013, up 5%, as against that of $3,614m during the comparable period last year.

Underlying net sales increased 8%, which was primarily driven by geographic gains and brand strength.

The company's major brands Jack Daniel's, Casa Herradura and Finlandia's net sales grew 11%, 9% and 6%, respectively.

Net income for the fiscal 2013 increased 15% to $591m from $513m generated in fiscal 2012.

The company posted operating income of $898m in the fiscal 2013, up 14%, compared to the operating income of $788m in the same period in 2012.

Underlying operating income increased 13%, which was mainly driven by top-line growth, gross margin expansion and operating expense leverage.

Brown-Forman CEO Paul Varga said the company is pleased to have delivered another year of top-tier industry results, with underlying sales growth of 8% and underlying operating income growth of 13%.

"The company achieved solid price increases, which helped drive margin expansion," Varga added.

"Due to continued global interest in North American whiskey and favorable trends in premiumization, we remain cautiously optimistic that Brown-Forman's strong and balanced organic growth will continue in fiscal 2014."