CHILE: Exports lead Concha y Toro Q1 surge

By just-drinks.com editorial team | 30 April 2007

Vina Concha y Toro has seen its Q1 figures soar on the back of strong exports.

The Chilean wine company said late last week that net income for the three months to 31 March leapt by 306% year-on-year to CLP5.8bn (US$11m). Sales for the quarter were up by 36% to CLP54.35bn, with strong exports across all regional markets and a positive performance from Concha y Toro's Argentine subsidiary.

"The result achieved by our export business is highly auspicious and reflects the strength of our products and the competitive positioning of our extensive wine portfolio," said company CEO Eduardo Guilisasti.

The company credited a good quarter for its UK subsidiary, without giving specific figures.

Domestically, however, Concha y Toro turned in a flat period, with revenue up by only 0.9%.

In February, Concha y Toro reported a 4.4% slip in full-year operating income to CLP24.3bn, despite a 5% rise in sales for 2006, to CLP215.8bn.

Sectors: Wine

Companies: Concha y Toro