CANADA: Magnotta sales up in Q1
Magnotta Winery Corporation has posted a slight rise in sales for its first quarter.
The Canadian wine company said yesterday (13 June) that net sales for the three-month period to 30 April were up by 2.9% to C$5.74m (US$5.16m), resulting from an expanded customer base, increased licensee sales to restaurateurs, and more focused marketing campaigns.
Net earnings at the winery increased 2.8% to C$0.824m from C$0.802m in the prior year period.
Magnotta, which has seven locations in Ontario, Canada, said that the steady increase in sales is consistent with management expectations.
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