Castle Brands, a New York-based developer and international marketer of premium and super-premium branded spirits, has reported net sales of $41.4m for the year ended 31 March 2013, up 16.8%, compared to net sales of $35.5m generated in the fiscal 2012.

The increase in sales was primarily due to increased rum and whisky sales in the US and international markets.

In the fourth quarter (Q4) of fiscal 2013, the company posted net sales of $10.8m, an 8.1% increase from net sales of $10m in the comparable prior-year period.

The company’s total case sales for beverage alcohol products increased 11.6% to 372,059 cases in fiscal 2013, compared to 333,529 cases in the prior-year period.

Gross profit for the fiscal 2013 increased from $12.5m in 2012 to $14.3m in 2013.

In Q4, gross profit marginally increased from $3.27m in 2012 to $3.42m in 2013.

Castle Brands CEO and president Richard Lampen said the company is proud of the strong growth of its core brands, driven by its experienced sales force and effective marketing programs.

"These sales increases were achieved without corresponding increases to general and administrative expenses. This ability to scale our business led to stronger bottom line performance, with a 69.5% improvement in our EBITDA, as adjusted," Lampen added.

"We expect this trend to continue in the current fiscal year."

Castle Brands COO John Glover said Gosling’s volume exceeded 100,000 cases in the US, an important milestone that reflects the strength of the brand and the growing popularity of the trademarked Dark ‘n Stormy cocktail.

"Sales of our Stormy Ginger Beer in the US increased 59% to 248,309 cases. Jefferson’s bourbons and rye whiskies also delivered very strong growth performance," Glover added.

"We are particularly pleased to have secured $2.5 million of aged bourbon to support continued growth of the Jefferson’s brand."