Castle Brands' net sales up 14.8 percent in Q2 2015
Growth driven by whiskeys, Gosling’s Stormy Ginger Beer
Castle Brands Inc., New York, reported a net sales increase of 14.8 percent to $13.4 million for the second quarter of its 2015 fiscal year, which ended Sept. 30, compared with the prior-year period. This can be attributed to continued strong growth of Jefferson's bourbons and Irish whiskey, which led to a 36.8 percent increase in whiskey revenues from the comparable prior-year period, the company says. In addition, Gosling's Stormy Ginger Beer case sales increased 72 percent to approximately 192,000 cases from approximately 112,000 cases in the prior-year period, it adds.
"In the second quarter, we used recently purchased aged bourbon reserves to support increased sales of Jefferson's and Jefferson's Reserve, expand our Jefferson's barrel program, accelerate our Jefferson's Ocean Aged at Sea program, and position us to re-issue Jefferson's Chef's Collaboration,” explained John Glover, chief operating officer of Castle Brands, in a statement. “Just as we are expanding our offerings under the Jefferson's umbrella, we are also expanding our Irish whiskey offerings. We have initiated a Knappogue barrel program and plan to add additional offerings under our Knappogue and Clontarf labels. These initiatives, both with Jefferson and our Irish whiskeys, should provide additional growth for our whiskey sales.