Company reports net sales growth of 10 percent from prior year period
Brown-Forman Corp., Louisville, Ky., reported financial results for its second quarter and the first half of fiscal 2018, which ended Oct. 31, 2017. For the second quarter, it reported that net sales increased 10 percent to $914 million compared with the prior-year period. Reported operating income increased 19 percent in the quarter to $346 million, it reports.
For the first six months of the fiscal year, the company’s reported net sales increased 10 percent to $1.6 billion, compared with the prior-year period. Reported net sales growth benefited by 2 percentage points from changes in distributor inventories and 1 percentage point of foreign exchange. Reported operating income increased 17 percent in the quarter to $590 million, it reports.