Record results at FB


21 January 2005– Lincolnshire (IL): Fortune brands (FB) has posted record results for its Q4 and full year, thanks to strong demand across all product sectors, the company has announced.

The company’s Q4 sales rose 15.4 per cent to $1.91 billion from $1.66 billion a year ago. Net income jumped 59 per cent to $249.5 million, or EPS of $1.68, from $156.9 million, or EPS of $1.04, in the year ago quarter.

Net sales for the full year increased 18 per cent to $7.32 billion, benefiting 8.5 per cent from the net impact of acquisitions, excise taxes and favourable foreign exchange. Net income was $784 million, up 35 per cent from $3.86 in 2003.

CEO Norm Wesley said: "With sustained momentum in Q4, FB delivered another year of strong double-digit growth that extended our track record of consistently strong results." He described successful new products and the company’s investments behind its powerful consumer brands as fueling growth.

Looking into 2005, Wesley said that FB was targeting double-digit growth in EPS for both Q1 and the full year.