CHILE: Concha y Toro on the rise in 2003
Concha y Toro has posted its figures for 2003. The Chilean wine exporter, which accounts for around 20% of exports by value, reported late last week that profits for last year hit US$31.3m, a rise of 12.8% on 2002 when net profit totalled US$22.79m.
Sales last year increased by 18.3% to $258.3m, based on strong volume growth to Europe and a slight rise in average prices.
The company saw its figures rise, in part, thanks to record sales of over 1m nine-litre cases of its signature label, Casillero del Diablo, primarily to Europe and the US.
Concha y Toro credited the yearly growth to an aggressive export campaign against the background of weakness in its domestic market.
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