Brown-Forman Corporation is celebrating one of the company’s most successful years in its 144- year history.
During the company’s regularly scheduled annual meeting of shareholders on July 24, Paul Varga, chairman and CEO, discussed the company’s strong performance in fiscal 2014 and over the last decade. He noted that Brown-Forman’s underlying operating income growth far exceeded the rate of growth of its industry and other relevant benchmarks, and that the company’s 22% Return on Invested Capital was also at the top of the distilled spirits industry.
“These consistently strong results were led by the remarkable Jack Daniel’s trademark, our portfolio skew to premium North American whiskey, and the continued globalization of our company,” says Varga. “We delivered yet another strong year of returns for our shareholders in fiscal 2014, which helped drive total shareholder return of 17% per year over the last decade, more than twice the S&P 500.”