Fortune Brands has posted a sharp leap in group net profits for the first quarter, although operating profits at its Beam Global Spirits & Wine unit slipped in the period.
For the three months to the end of March, operating profits at Beam Global were down by 10.5% year-on-year to US$115.1m, despite a 17.8% jump in sales, which came in at $573.1m. Healthy operating profit rises at Fortune’s Home & Security and Golf divisions offset the fall, however.
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