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Brown-Forman posts 6 percent rise in 3Q profit

Brown-Forman posts 6 percent rise in 3Q profit

Brown-Forman Corp. says its third-quarter profit rose 6 percent as sales for some brands grew and the liquor company reduced advertising and other expenses.
The maker of Finlandia vodka and Jack Daniel's whiskey said Tuesday it earned a profit of $123.4 million, or 81 cents per share, for the three months ended Jan. 31, up from $115.9 million, or 75 cents per share, a year earlier.
The results beat the projection of 77 cents per share from analysts surveyed by Thomson Reuters.
Louisville-based Brown-Forman said its quarterly sales dropped 11 percent to $784.1 million. Analysts were looking for sales of $903.1 million.


Updated : 2020-12-04 13:39 GMT+08:00