S AFRICA: Domestic market buoys KWV - report
South African wine and brandy group KWV Ltd has reportedly seen first-half profits rise over 30% on the back of rising domestic sales.
According to reports in South Africa late last week, the company posted a 31.3% leap in operating profit to ZAR59.6m (US$9.9m) for the six months to 31 December 2005. Turnover rose 9.4% to ZAR635.6m.
"Sales of our wines and brandies in South Africa have exceeded expectations, and we have also performed well in the rest of Africa," KWV Ltd chief executive Willem Barnard was quoted as saying by South Africa's Business Report.
He added: "The main market in South Africa is the market that provides the product to the black consumer and this is where we experience the growth and this is where we experience acceptance of our brand."
KWV Ltd officials could not be reached for comment as just-drinks went to press.
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