Brown-Forman Corporation reported a 4% increase in diluted earnings per share and an 8% increase in operating income for its
third quarter ended January 31, 2008.(1) The addition of profits from the Casa Herradura(2) brands acquired in January 2007, benefits from favorable foreign exchange fluctuations, higher global consumer demand for Jack Daniel’s Tennessee Whiskey and Finlandia Vodka, an exceptional increase in U.S. demand for Gentleman Jack, and continued excellent growth for the Jack Daniel’s & Cola ready-to-drink in Australia contributed to profit growth for the quarter. Partially offsetting these gains were softness for Southern Comfort and higher raw material costs. Adjusting for the benefits of a weaker U.S. dollar, the impact of changes in global trade inventories, and profits from Casa Herradura, underlying operating income improved 7%(3) for the third quarter.
Continue reading ‘Brown-Forman reports third quarter operating income growth of 8%, underlying operating income up 7% for the third quarter and year-to-date’
Archive for February, 2008
Constellation Brands, Inc. (NYSE: STZ, ASX: CBR), a leading international producer and marketer of beverage alcohol, today completed the previously announced sale of the Almaden and Inglenook wine brands, and the Paul Masson winery located in Madera, Calif., to The Wine Group LLC for $134 million in cash. Proceeds from the transaction will be used to reduce Constellation’s borrowings.
* Operating profit from ordinary activities: € 966 million (+15.3%(1))
* Net profit Group share: € 588 million (+17.7%)
* Upward revision of 2007/2008 full-year profit growth guidance
Continue reading ‘Pernod Ricard: Historic sales growth and accelerated profitability growth in the 1st half year of the 2007/2008 financial year’
At almost 50% complete, the 2008 Australian winegrape harvest looks set to deliver between 1.55 and 1.65 million tonnes.
Continue reading ‘2008 Australian harvest upgraded’
California vintners crushed 3.24 million tons of winegrapes in 2007, up 3 percent from 2006’s crush of 3.14 million winegrape tons, according to the Preliminary Grape Crush Report from the California Department of Food and Agriculture. The total was as predicted from last fall’s forecasts. The final report will be issued March 10, 2008.
Continue reading ‘2007 California Crush of wine type grapes up three percent’
The Sonoma, California-based Bulgarian Master Vintners import company has released a line of white wines from the Black Sea Coastal Region in Bulgaria.
Continue reading ‘Bulgarian wines in California’
French wine and liquor exports, which rose to a record in 2007, are showing the first signs of a slowdown as the euro’s rise against most currencies erode sales, a trade organization said.
Continue reading ‘Rising euro slows French exports’
2007 revenues: 359.4 millions euros higher than target.
In a Champagne wine market that was trending up (+5.3% in volume, 2007 12 months, source: CIVC), the BOIZEL CHANOINE CHAMPAGNE Group generated 359.4 million euros in consolidated revenues over 2007, higher than the
target.
GROWTH IN BUSINESS
The BOIZEL CHANOINE CHAMPAGNE Group’s consolidated annual revenues came to 359.4 million euros, up 15.5% from the 311.3 million euros recorded in 2006. Revenues for 2007 reflect the balance for the stock reduction program launched in 2006 in line with efforts to restructure the Group’s debt, representing 37 million euros, compared with 45 million euros last year. Naturally, they also factor in 12 months of business for the new subsidiaries Maison BURTIN and Champagne LANSON compared with only the last nine months of 2006. Excluding the stock reduction program, and including revenues generated by Maison BURTIN and Champagne LANSON in Q1 2006, revenues would have come out at 322.4 million euros for 2007, compared with 302 million euros in 2006, representing an increase of 6.8%. On the previous BOIZEL CHANOINE CHAMPAGNE Group scope, revenues totaled 117.4 million euros, compared with 90 million euros in 2006. Out of this 27.4 million euro increase, 18.7 million euros were contributed by the CGV brokerage subsidiary, whose revenues are traditionally subject to significant fluctuations. Excluding CGV, sales on the former scope represent 91.1 million euros, compared with 81.4 million euros in 2006, up 12%. The CHANOINE and TSARINE brands have notably benefited from the commercial synergies implemented with Maison BURTIN and Champagne LANSON. The PHILIPPONNAT and DE VENOGE Houses, specialized in traditional luxury and selective retail channels, have also generated good levels of sales.UPGRADING POLICY
The total number of bottles of Champagne wine sold by the Group’s Houses came to 21.6 million bottles, up 3.3% in volume compared with 2006 (12 months), reflecting the Group’s focus on developing the value of its Houses.
The percentage of international sales for the entire BOIZEL CHANOINE CHAMPAGNE Group came to 46%, compared with 45% in 2006.
The Burgundy Wine Office (BIVB) will be launching its very first online marketing campaign in March and April. It will be on www.viamichelin.com, a route planning website.
Continue reading ‘First BIVB internet advertising campaign’
The Board of Directors of UST Inc. (NYSE: UST) today declared a regular quarterly dividend of 63 cents per common share, payable March 31, 2008 to stockholders of record at the close of business March 14, 2008.
Continue reading ‘UST declares regular quarterly dividend’
Commission Regulation (EC) No 5/2008 of 4 January 2008 derogating from Regulation (EC) No 1282/2001 as regards the final date for submitting harvest and production declarations for the 2007/08 wine year
Continue reading ‘Commission Regulation as regards the final date for submitting harvest and production declarations for the 2007/08 wine year’
The International Wine Industry Greenhouse Gas Accounting Protocol, developed through a partnership between the Wine Institute of California, New Zealand Winegrowers, South Africa’s Integrated Production of Wine program, and the Winemakers’ Federation of Australia, will soon be released for use by the global wine industry. With increased attention to climate change and greenhouse gas (GHG) emissions and offsets, the goal of the project partners is to provide a free, easy-to-use, wine industry specific, greenhouse gas (GHG) protocol and calculator that will measure the carbon footprints of winery and vineyard operations of all sizes.
Continue reading ‘Wine Institute and international partners to release new Greenhouse Gas Protocol and accounting tool for use by global wine industry’
Campaign will include promotion of wines from Germany, Alsace and Austria and kick off with a ‘Destination Riesling’ luncheon at 154 South Gate in New York City
Continue reading ‘Wines of Germany and European Union announce joint program to promote European Riesling in the U.S.’
American Also Wins for Best Fortified or Sweet Wine
Judges at an international wine-tasting competition have raised their glasses to American Airlines, twice selecting the airline’s wine offerings as tops in their class.
Continue reading ‘American Airlines earns title for Best Business Class Wines at Cellars in the Sky competition’
Jamie Davies, “was one of the great pioneers in the Napa Valley and probably in all of American wine,” said Mary Novak, owner of Spottswoode Winery and a longtime friend. “She and her husband, Jack, accomplished a lot and she kept going until the end.”
Continue reading ‘Jamie Davies dies - Schramsberg owner’
Producers of Syrah Wines — Registrations now open for Syrah du Monde® 2008
Continue reading ‘Syrah du Monde® | Shiraz World Tasting’
Following approval from the New Zealand Overseas Investment Office, Pernod Ricard confirms successful completion of the Framingham brand, winery and vineyard sale to Sogrape effective 31st January 2008. In accordance with the agreement, Pernod Ricard retains the distribution rights for Framingham in New Zealand, Australia and the Pacific Travel Retail markets.
- Constellation to increase focus on faster-growing, higher-margin wine
- Proceeds will reduce borrowings
- Company updates fiscal 2008 outlook
Continue reading ‘Constellation Brands sells Almaden and Inglenook to The Wine Group’
New report finds 50% of family-owned wineries to change hands by 2017.
Continue reading ‘U.S. wine industry to experience ownership shake-up’
The California Travel and Tourism Commission and the California Wine Institute launched The Land of Wine and Food, a campaign to promote the state’s abundant wine and food offerings. The national advertising component of the program features California wine and culinary celebrities, including Pat Kuleto of Kuleto Estate and Pat Kuleto Restaurants
Continue reading ‘California Travel & Tourism Commission and Wine Institute launch National ‘Land of Wine and Food’ campaign’
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