CANADA: Canadian wine results show disparate fortunes
By Monica Dobie | 19 February 2001
Vincor, the largest winery in Canada, based in Mississauga Ontario, saw its sales rise 12% to $C95.2m with its net income climbing to $C6.5m, up 14% in its third financial quarter that ended December 31.
Vincor attributed its success on the purchase of the R.H. Phillips California winery in October and growth in its premium wine sales. However Andres did not fare well with sales in the same quarter falling 5% from the previous year to $C39.5m and net income falling a staggering 35% to a mere $C2.2m, partly due to the sale of the company's Quebec operations.
Niagara-based Andres, blamed the poor results on competition. A spokesman said prices and volumes "continue to be negatively impacted by the increased share of the Canadian market held by low-priced subsidized imported wines."
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let's define "Canadian" wine before blaming imported wines for diminishing sales. both vincor and andres import huge volumes of bulk wines, ameliorate them and blend them with inferior Canadian wines, selling them to an unsuspecting public as "Wines of Canada". true 100% Canadian content wines from the Okanagan Valley and Niagara can be astoundingly good, but represent only a very small fraction of this country's wine consumption. shame.
baron said at 12:32 am, February 21, 2001
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