LOUISVILLE, Ky. – Liquor company Brown-Forman Corp. posted a 30 percent increase in its third-quarter profit on Tuesday, beating Wall Street estimates on the strength of robust international sales and a sales spike for its Jack Daniel’s and el Jimador brands.
Its shares jumped 7 percent in morning trading.
The Louisville-based company also raised its full-year earnings outlook and reported improving results in the United States, where the economic downturn has made consumers less inclined to venture out to drink at bars and restaurants.
The maker of Jack Daniel’s Tennessee Whiskey and Southern Comfort has focused attention on boosting sales overseas. It said sales gains in the first nine months of its fiscal year were led by strong performances in places like Australia, the United Kingdom, Mexico, Turkey, Germany, France and Brazil.
“We continue to be pleased with our broad-based growth encompassing both developed and emerging international markets,” Brown-Forman CEO Paul Varga said in a statement.
Varga said the third-quarter performance showed accelerated growth from the first half of the company’s fiscal year, led by the Jack Daniel’s and el Jimador brands.
“We also were encouraged by the improving top line results in the United States,” he said.
Don Berg, Brown-Forman’s chief financial officer, said in a
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