For the full year, net sales reported by the company decreased by 1 percent reaching €3.9 billion compared to the same period of the previous year. Operating income increased by 25 percent, reaching €1.3 billion.
Lawson Whiting, president and CEO of Brown-Forman, said in the statement: “In a challenging year within the spirits industry, Brown-Forman remained focused on the long-term growth of our brands and our business. We believe we can build on this foundation and deliver top and bottom line organic growth as well as continued gross margin expansion.”
Regarding its brand portfolio, reported net sales of Jack Daniel's Tennessee Whiskey decreased by 6 percent, however, sales of Ron Diplomático and Gin Mare increased by 61 percent, strengthening the growth of all the rest of the net sales. Ultimately, the company returned €750 million to shareholders through the distribution of €380 million in quarterly dividends and €370 million through its share buyback program.
