The German sparkling wine company, Sektkellerei Schloss Wachenheim, reported a profit of €5.2m (US$5.6m) for the first half of the 2002/03 fiscal year, representing a 21.1% decline from the first half of the previous fiscal year.

The fall in profit was attributed to lower sales in Germany, while Wachenheim's sales in eastern Europe rose by 10% to €233.8m (US$251.3m). Sales for the full 2002/03 fiscal year are forecast to rise by 10% to €400m (US$430m).