Trade Resources Industry Views Beam Has Reported Net Sales of $1.209bn in The Half Year (H1) Ended 30 June 2013, up 7.6%

Beam Has Reported Net Sales of $1.209bn in The Half Year (H1) Ended 30 June 2013, up 7.6%

Spirits giant Beam has reported net sales of $1.209bn in the half year (H1) ended 30 June 2013, up 7.6%, compared to net sales of $1.123bn in the same period in 2012.

Gross profit for the company was up by 9.4 % from $659m in first half of 2012 to $721m in 2013.

The American firm has also posted net income of $187m for the H1, up by 5.2%, compared to net income of $178m in the same period in 2012.

Beam president and chief executive officer Matt Shattock said that the company expects a stable growth including global market for the next half of the year, including a 3% in the US.

"Regarding phasing of results in the second half, the second-quarter performance of the US market and our strong innovations resulted in some distributor inventory build in Q2 that will impact our shipments in the third quarter," Shattock added.

"Beam entered the second half of 2013 in a strong competitive position, and we believe our agility in a dynamic global market will serve us well as we continue to create value.

"Our broad portfolio of premium brands, innovation capabilities, strength in Bourbon and strong global routes to market - combined with consistent execution of our strategy - give us confidence that we will gain market share globally in 2013 and continue to deliver sustainable, profitable long-term growth."

 

Source: http://www.drinks-business-review.com/news/beam-first-half-net-sales-up-76-090813
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Beam First Half Net Sales up 7.6%