CANADA: Magnotta content with Q3 showing
Canadian wine producer Magnotta Winery Corp. has said that the rise in its third-quarter earnings and sales is "consistent with management expectations".
The Ontario-based company, formed in 1990, yesterday (14 December) posted a 2.9% increase in net earnings to C$908,440 (US$786,200) for the three months to 31 October. Net sales rose 2.5% to C$6.9m.
"This slow, steady increase in sales is consistent with management expectations," the company said.
Magnotta said that, over the nine months to 31 October, net earnings rose 2.5% to C$2.5m. Net sales increased 2.7% to C$18.2m.
Magnotta has operations located throughout the Greater Toronto Area, south-western Ontario and the Niagara Peninsula. The winery also owns 351 acres of vineyards in Chile's Maipo Valley. The company has national distribution throughout Canada with its key export markets including the US and Taiwan.
- What's so special about Islay anyway? - Comment
- Six key trends for alcoholic drinks in 2016
- What do Bourbon and craft beer have in common?
- Aus wine industry pays price for past failures
- Ten things to know about spirits in the US
- Alcohol industry warning over Kroger plan
- SABMiller hits back in UK corporation tax row
- Diageo's Orphan Barrel The Gifted Horse - NPD
- Suntory bids for Lucozade, Ribena Nigerian network
- American rye whiskey sales leap 600% in five years
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global Beer Trends 2015 : Global Beer Trends and Long-term Forecasts
- Global Whiskey Market 2016-2020
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research