US: Profits surge at Oregon wine producer

By just-drinks.com editorial team | 16 May 2006

Oregon wine producer Willamette Valley Vineyards saw profits more than triple during the first quarter of the year as out-of-state sales soared.

The company said yesterday (15 May) that net income had surged 303% to reach US$357,294 for the three months to 31 March. Revenues rose 56% to US$3.7m.

Sales outside Oregon rose 68%, however the company warned that soaring demand was putting a strain on supply. Case sales of vintage Pinot Noir last year had exceeded the expected supply this year and into 2007, Willamette Valley Vineyards said.

The company added that it had invested in expanding its vineyards over the next 10-year period to meet rising demand.

Sectors: Wine