Beam Posts Profits Despite Fall In Kilbeggan Sales
Published on May 4 2013 5:13 PM in General Industry
American whiskey producer Beam has posted a rise in first quarter net income to $114.5 million (€87 million), up from $79.1 million in the same period a year earlier. However, although overall sales rose by 8% to reach $577.7 million, the company noted that sales of its famous Kilbeggan brand had fallen, along with Courvoisier cognac and Sauza tequila. Beam, makers of Jim Beam whiskey, purchased the Cooley Distillery in Co. Louth in January last year, and with it the Kilbeggan label. Earlier in 2013, the whiskey was described as one of the rising stars of the company's portfolio.