August 26, 2009 / 3:40 PM / in 9 years

UPDATE 1-Corby Distilleries Q4 profit rises

* Q4 EPS C$0.26 vs C$0.21 last year

* Revenue rises 4 percent

Aug 26 (Reuters) - Corby Distilleries Ltd CDLa.TO, a manufacturer and marketer of spirits, posted higher fourth-quarter results, helped in part by commission income from the distribution of Absolut vodka.

Net earnings rose to C$7.4 million ($6.8 million), or 26 Canadian cents a share, compared with C$6.0 million, or 21 Canadian cents a share, in the year-ago quarter.

Revenue rose to C$42.6 million from C$40.8 million.

Corby is controlled by Hiram Walker & Sons Ltd, a wholly owned unit of Pernod Ricard SA, a French public limited company.

Last September, Corby entered into an agreement with Pernod Ricard providing it the exclusive right to represent the Absolut vodka brand in Canada until Sept. 30, 2013.

Corby said the 30 percent increase in commission income in the quarter was primarily due to the addition of Absolut vodka. Commissions from Pernod Ricard brands — which include Chivas Regal and The Glenlivet scotch — rose 35 percent.

The company’s shares were down 18 Canadian cents at C$14.82 during late morning trade Wednesday on the Toronto Stock Exchange.

$1=1.090 Canadian Dollar Reporting by Isheeta Sanghi in Bangalore; Editing by Anne Pallivathuckal

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