Friday, November 02 15:58:44
Sales of Kilbeggan Irish Whiskey surged by 31pc in the third quarter, owners of the brand, Beam, said today.
Kilbeggan is now ranked as a "rising star" in the group's portfolio of drinks that includes Jim Beam, Courvoisoier and Canadian Club.
Kilbeggan is distilled in Cooley Distillery in Co Louth and was sold to Beam by its owner, John Teeling, a year ago.
Cooley has an award winning portfolio of Irish whiskeys including Kilbeggan Irish whiskey, Tyrconnell Single Malt, Connemara Peated Single Malt and Greenore Single Grain Irish whiskey.
Beam's sales increased 8pc and were up 4pc on a comparable basis, even with a challenging comparison to strong North America sales in the year-ago quarter. Comparable sales growth was broad-based and benefited from innovations that improved product mix, higher pricing, and increased volumes. Comparable sales grew across the company's three segments, with particularly strong growth for the company's global Power Brands in core markets.
On a reported basis (GAAP), diluted earnings per share from continuing operations were $0.57 versus a loss of $0.53 in the year-ago quarter. Diluted EPS before charges/gains was $0.62, up 17pc, with leverage delivered by sustained top-line outperformance, improved price/mix, and lower interest expense.
Through the first three quarters of 2012, reported net sales increased 5pc and were up 7pc on a comparable basis. Diluted EPS before charges/gains is up 21pc year to date, and is up 526pc on a reported basis. Reported earnings comparisons reflect the impact of costs in 2011 associated with the separation of Fortune Brands' businesses.