Castle Brands has reported a drop in revenues and profits in their most recent quarter, with net loss tripling over last year (1.5 m vs .5 m last year). The company has a number of brands it its stable including Jefferson’s, another bourbon we’d like to get our hands on for a taste.
The company has downsized its brands and distribution channels in the face of economic realities, but claims they have rationalized their operation and are poised for more stable growth.
Amidst a still challenging economic environment, we are pleased with the progress we are making focusing our resources on our most profitable brands, which fueled improved margins despite lower volume. In addition, we are continuing to support our agency relationships while controlling costs.