BF.B Brown Forman Corp

Wine and spirits maker Brown-Forman Corp. said Wednesday its second-quarter profit rose 4%, with per-share earnings coming in below expectations, as foreign currency dented results.

The Louisville, Ky., company, which makes a large portion of its sales abroad, continues to be stung by the stronger dollar.

Chief Executive Paul Varga said the company's underlying first-half results were strong and "keep us on track to achieve our full-year growth outlook."

Brown-Forman said in the first half of the year, sales of its largest brand, Jack Daniel's, grew 7% excluding foreign-currency effects, with Tennessee Honey whiskey sales shooting up 14%. The el Jimador family of tequila brands grew an adjusted 17%.

For the quarter, Brown-Forman reported a profit of $208 million, or 97 cents a share, up from $200 million, or flat, a year earlier. Revenue dropped 3.4% to $1.1 billion.

Analysts polled by Thomson Reuters had forecast earnings of $1 a share on $1.1 billion in revenue.

Gross margin fell to 53.5% from 53.6%.

Shares closed at $103.89 on Tuesday and were inactive premarket on Wednesday. The stock has risen 18% this year.

Write to Anne Steele at Anne.Steele@wsj.com

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(END) Dow Jones Newswires

December 02, 2015 09:25 ET (14:25 GMT)

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