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Kilbeggan owner Beam sees strogn demand for bourbon

Beam, the drinks company that owns Kilbeggan Whiskey, has posted a bigger-than-expected third-quarter profit, helped by strong demand for its bourbon.

Income from continuing operations was $91.7m for the third quarter, compared to a loss of $82m for the third quarter of 2011.

The company said it still expects earnings to grow at a low double-digit percentage rate this year.

Sales of its Kilbeggan Irish Whiskey were up 31%.

The maker of Jim Beam and Maker's Mark bourbons said fourth-quarter earnings would probably fall as it spends more on advertising over Christmas.

It also said it was investigating allegations of financial lapses at its operations in India, after a report of possible violations of the US Foreign Corrupt Practices Act.