CHILE: Concha y Toro Q4 leap belies FY stumble

By just-drinks.com editorial team | 28 February 2007

Concha y Toro has posted a slight dip in operating profit for last year.

Chile's largest wine producer said yesterday (27 February) that operating income for 2006 came in 4.4% down on 2005, reaching CLP24.3bn (US$44.9m). The slip came against a rise in sales, however, of 5% to CLP215.8bn.

The full-year figures contradicted Concha y Toro's final quarter of last year, when the company saw operating income leap by 66% year-on-year to CLP6.7bn.

Sales also rose, by 14% to CLP59.8bn, driven by what Concha y Toro called "a strong quarter" for exports led by sales in Latin America, Canada and Europe.

"The strong momentum maintained by exports is demonstrated by a 26.9% growth in value in the quarter and 16.8% increase in the year," said Eduardo Guilisasti, Concha y Toro's CEO.

"Growth has been driven by healthy volume growth and the rise in the average price mainly as a result of better sales mix led by the premium category. Casillero del Diablo sales volume broke a new record: 2m cases worldwide, growing 17% over 2005."

Sectors: Wine

Companies: Concha y Toro