Net sales increased 6.5% to $20.9 million for the second quarter of fiscal 2018, as compared to $19.6 million for the comparable prior-year period. The firm posted a $280,622 profit. A year earlier it recorded a $489,854 loss.
One reason for the gain: Continued strong growth of Jefferson’s bourbons and the Irish whiskies and the addition of the Arran scotch whiskey portfolio. Also, Goslings Stormy Ginger Beer case sales increased 37.2% to approximately 907,000 cases in the first six months of fiscal 2018 from approximately 660,000 in the comparable prior-year period.
The acquisition in October of an additional 5.0% stake in Copperhead Distillery Co., owner of Kentucky Artisan Distillery, the home of Jefferson’s, demonstrates our continued commitment to our Jefferson’s brand. Further, by expanding our credit facility with our existing lender, we believe we have positioned ourselves to support the continued growth of our entire portfolio,” Richard J. Lampen, ceo, added.
“The combination of our new fill whiskey program, coupled with opportunistic purchases of aged whiskies, enables us to build substantial reserves of aged bourbon to support continued strong growth of our Jefferson’s brand. We released a limited-edition Jefferson’s Presidential Select in the second quarter and plan to expand our wine finishes program in the coming months. We are also preparing the launch of the next voyages of our Jefferson’s Ocean Aged at Sea® bourbon, including Cask Strength and a “Wheated” Ocean,” said John Glover, Executive Vice President and Chief Operating Officer of Castle Brands.
“The continued growing popularity of ginger beer cocktails, including Goslings’ trademarked “Dark ‘n Stormy”® cocktail, has been an important growth driver of Goslings “Stormy Ginger Beer.” Ginger beer sales for the 12 months ended September 30, 2017 exceeded 1.6 million cases, making “Stormy Ginger Beer” the best-selling premium ginger beer in America. We are very pleased with the success of our first six months at Walmart, and look forward to continuing the overall growth of the brand,” Glover added.