• Q1 net profits leap by 59.2% to US$296,593
  • Net sales also rise in three months to end of March, by 11.7% to $3.04m
  • Operating profits increase by 8% to $296,593
Willamette Valley Vineyards released its Q1 figures yesterday

Willamette Valley Vineyards released its Q1 figures yesterday

Willamette Valley Vineyards has had a healthy start to the year, with both sales and profits in Q1 heading north.

The Oregon-based wine producer said yesterday (14 May) that net profits in the three months to the end of March soared by 59.2% to US$296,593. Sales in the three-month period were also up, by 11.7% to $3.04m.

Operating profits posted an 8% lift, reaching $296,593.

Sales in the quarter benefited from a 22.5% lift in retail sales, and increased out-of-state sales to distributors of 9.7%.

The performance builds on Willamette's full-year results, released last month, which saw net profits leap on a slight lift in sales in 2012.

The company is listed on the NASDAQ exchange.