Reiterates guidance with FY organic sales growth 2-4% (Il Sole 24 Ore Radiocor) - New York, 29 Aug - US spirits manufacturer Brown-Forman said its net sales in its first quarter of fiscal 2025, ended July 31, fell 8% to 951 million dollars on cooler demand and higher input costs.

The group, which makes Jack Daniel's Tennessee Whiskey, said its net income in the period was 195 million dollars, or 0.41 dollars a share, compared to 231 million, or 0.48, in the same period a year ago. Consensus was 0.45 dollars a share.

"We anticipate a return to growth for organic net sales and organic operating income in fiscal 2025 driven by gains in international markets and the benefit of normalizing inventory trends," it said, cautioning global macroeconomic and geopolitical uncertainties would continue to create a challenging operating environment.

It reiterated its fiscal 2025 guidance with organic net sales growth in the 2-4% range.

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(RADIOCOR) 29-08-24 19:33:51 (0565) 5 NNNN