CHILE: Exports lead Concha y Toro Q1 surge
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.
Vina Concha y Toro has posted a strong rise in operating profit for its third quarter....
US wine consumption rose 3.4% in 2006, continuing the sector's climb for the 13th consecutive year, according to research out this week....
Growth in its premium wines and strong export growth have helped Vina Concha y Toro report a 70.4% rise in net income for the second quarter to CLP8.77bn (US$16.7m)....
Central European Distribution Corporation has acquired a Polish alcoholic drinks distributor....
Wine exports from Chile stood at US$1.066bn during the 12 months from April last year, according to recent reports....
Central European Distribution Corporation has lined up a distribution agreement in Poland....
Concha y Toro has secured a deal to rent the facilities of Vina Canepa in Chile....
Central European Distribution Corporation has set out its stall for 2007....
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