Finlandia’s depletions grew 7% to over 3.1 million cases, driven by strong demand in Russia and Eastern Europe. The Company’s tequila portfolio enjoyed broad-based volume growth driven by Herradura’s 13% increase to almost 300,000 cases and 10% growth for New Mix. Sonoma-Cutrer also enjoyed depletion growth of over 10% for the full year.Reported gross profit for the year increased 4%, while underlying gross profit grew 8%. Higher input and fuel costs affected both underlying and reported gross profit trends in the year but inflationary pressures are expected to lessen in fiscal 2013. One way in which the Company continued to invest consistently behind its portfolio of brands was through higher advertising spend, up 8% on a reported basis with social media playing a more prominent role in the Company’s marketing mix. Additionally, reported SG&A increased 6% due to higher investments behind people and route-to-consumer initiatives.
Brown-Forman Reports Full Year 2012 Results – Anticipates Another Strong Year Of High Single-Digit Underlying Operating Income Growth In Fiscal 2013
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.