CANADA: Andrew Peller sees growth continue in H1
- H1 net profits jump by 23.4% to CAD9m (US$9m)
- Sales in six months to end of September rise slightly, by 4.6% to CAD145.7m
- Operating profits hold steady, up by 1.6% to CAD18.6m
Andrew Peller has seen its Q2 numbers stay black
Andrew Peller has continued its healthy start to fiscal 2012-13 with sales and profits rises in the second quarter.
The Ontario-based wine producer said late last week that net profits in the six months to the end of September leaped by 23.4% year-on-year to CAD9m (US$9m). Sales in the half-year were up less dramatically, by 4.6% to CAD145.7m, while operating profits were up by 1.6% at CAD18.6m.
In the company's second quarter, net profits increased by 28.2% to CAD4.3m on the back of a 4.4% lift in sales, which hit CAD72.1m. Operating profits performed similarly in the three months to the first half, inching up by 1% to CAD8.9m.
The quarterly performance mirrored Andre Peller's Q1 numbers, although operating profits slowed after a 7.8% lift earlier this year.
For the first six months of the fiscal year, Andrew Peller once again credited the partnership with Wayne Gretzky Estate Winery, announced last year, and its acquisition of Cellar Craft as creating a positive impact.
Also highlighted were new product introductions particularly Skinnygrape, increased sales of premium blended and varietal table wine brands sold through provincial liquor boards and strong export sales.
"Our organic growth continued across the majority of our trade channels in the second quarter, augmented by solid contributions from our recent acquisitions," said company president & CEO, John Peller. "Looking ahead, we are confident our growth in sales and profitability will continue as key brands continue to perform extremely well."
To read Andrew Peller's official statement, click here.
For just-drinks' coverage of the company's Q1 numbers, click here.
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