Bourbon and rum boost Castle Brands full-year sales

US spirits maker Castle Brands has reported a 7% net sales increase to US$95.8 million in its 2019 fiscal year, boosted by the “strong growth” of Jefferson’s Bourbon and Goslings rum.

Castle Brands’ spirits portfolio includes Goslings rum and Knappogue Castle Irish whiskey

In the 12 months to 31 March 2019, profit is expected to be in the range of US$37m to US$37.5m. Net sales for the fourth quarter are predicted to be around US$26.9m – an increase of 12% year-on-year.

Jefferson’s Bourbon grew 19% in overall case sales and over 23% for products retailing for more than US$50 per bottle. According to the company, Jefferson’s is one of the top five small batch Bourbons in the US.

Knappogue Castle Single Malt Irish Whiskey “saw its best year ever” with “strong” double-digit growth, boosted by new super-premium packaging and the release of limited edition expressions at higher price points.

Goslings rum grew US sales by 5.5% and is one of the top 10 premium imported rum brands in the US.

Ready-to-drink brand Goslings Stormy Ginger Beer “continued its record of delivering strong growth” since it launched 10 years. Sales and points of distribution “continued to grow across all distribution channels” in the US.

Richard J Lampen, president and CEO of Castle Brands, said: “We are proud of Castle Brands’ case sales performance in the fiscal year ended March 31, 2019.

“We believe that it is unique for a small independent spirits and premium beverage company to have several brands that are either leading or outpacing the growth of their respective categories.

“We expect that growth of these brands, particularly Jefferson’s, will continue to drive our long-term trends of increasing sales and improving financial performance.”