FDBusiness.com

Record Sales For Beam

 Breaking News
  • World’s Most Modern Snack Plant Begins Operations in Finland The world’s most modern dairy snack plant has commenced operation at Valio Riihimäki in Southern Finland. The snack plant is the largest single investment in Valio’s history. Construction of the new snack plant began in 2014 and took about three years. The area of the plant building is approximately 20,000 square metres. The plant is [...]...
  • FrieslandCampina Sells Fruit Juice Business The Dutch investment company Standard Investment is acquiring Riedel, the fruit juice business of FrieslandCampina, for an undisclosed sum. Based at Ede in the Netherlands, Riedel has a turnover of about €125 million and employs 200 people. Completion of the transaction is expected before the end of 2017. Earlier this year, FrieslandCampina announced that it would [...]...
  • LacPatrick is Cream of the Crop in UAE LacPatrick, the international dairy co-operative, has secured over £1 million of sales of its LP spray dried whole milk and skimmed milk powder in the United Arab Emirates (UAE), following participation at the Gulfood exhibition in February 2017. LacPatrick is one of Northern Ireland’s major manufacturing employers, employing over 300 staff across its Ballyrashane, Artigarvan [...]...
  • Tate & Lyle Launches CLARIA® Instant Functional Clean-Label Starches Tate & Lyle, a leading global provider of food ingredients and solutions, has announced a further expansion of its line of CLARIA® Functional Clean-Label Starches with the introduction of two new instant starch products: CLARIA® Instant 340 and 360. As claims such as ‘smooth’, ‘luscious’ and ‘velvet’ continue to grow, manufacturers are eager to develop textures [...]...
  • Reveal Impact – Ardagh Group to Launch a Two-Stage Thermochromic Solution Reveal Impact features combined temperature-sensitive inks with a twist. The new solution for aluminium cans uses two different thermochromic inks, which both boast the same colour when cooled down. However, once the can gets warmer again, one colour disappears quicker than the other, revealing a hidden message to the consumer. The revealed message surprises the [...]...
  • HKScan Opens New €80 Million Poultry Plant HKScan, the Nordic meat group, has just opened its new, state-of-the-art poultry unit at Rauma in Finland. Valued at over €80 million, the new facility is the largest investment in HKScan’s history. Indeed, the state-of-the-art Rauma unit ranks among the most significant investments in the history of the Finnish food industry. Jari Latvanen, president and chief [...]...

Record Sales For Beam

Record Sales For Beam
February 07
10:40 2014

Beam, the US-based global spirits group, which is being acquired by Suntory of Japan for $16 billion, has reported a 4% rise in net sales to a record $2.55 billion for 2013 and an 8% increase in operating income to $617.1m. However, net income fell 5.9% to $362.5 million

Net sales for the year were up 2% on a comparable basis, when adjusted for foreign exchange and acquisitions/divestitures. Beam’s full-year sales benefited from market outperformance in North America and Europe/Middle East/Africa, partly offset by lower sales in Asia Pacific/South America. New products and positive price/mix enhanced the company’s top-line growth.

Matt Shattock, president and chief executive of Beam.

“Beam closed a strong year with a better-than-expected quarter that benefited from accelerated growth for premium brands and cost containment,” says Matt Shattock, president and chief executive of Beam. “For the full year, we delivered excellent performance in premium whiskey – led by Bourbon, Canadian, single-malt Scotch and Irish – as well as in Tequila. We’re pleased we exceeded the high-single-digit earnings target range we established at the start of 2013 and delivered another year of double-digit growth in diluted earnings per share before charges/gains.”

He continues: “We look forward to completion of the proposed acquisition of Beam Inc. by Suntory Holdings. The proposed transaction remains on track to close in the second quarter of 2014.” The transaction remains subject to regulatory clearance in the United States and the European Union.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2017drinktec
  • September 13, 2017FI Asia
  • September 19, 2017PROCESS EXPO 2017
  • September 22, 2017Global Summit on Food & Beverages
AEC v1.0.4

The Magazine

F&D Business Preferred Suppliers

Advertisements