Castle Brands Inc. releases 2015 fiscal year-end results
Company experiences sales increases
New York-based Castle Brands Inc., a developer and international marketer of premium and super-premium branded spirits, reported financial results for the quarter and 2015 fiscal year, ending March 31.
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Net sales increased 19.4 percent to $57.5 million for fiscal 2015, as compared with $48.1 million in the prior fiscal year, the company reports. It also reported that total gross profit increased 22.5 percent to $21.6 million, as compared with $17.6 million in fiscal 2014.
Whiskey revenues increased 41.6 percent from the prior year because of continued strong performance of Jefferson's bourbons and Knappogue and Clontarf Irish whiskeys, the company says. It also noted that cumulative Gosling's rum sales exceeded 1,000,000 cases. Gosling's Stormy Ginger Beer case sales increased 66.7 percent to approximately 715,000 cases from approximately 429,000 in the prior fiscal year.