GERMANY: Racke posts full year lift
Racke International has posted solid growth in its latest full year fiscal report.
The German wine marketer reported today (1 October) a 4% lift in turnover from 1 July 2006 to 30 June 2007. Total worldwide turnover of Racke amounted to EUR95.5m compared to EUR93.7m during the previous fiscal year, a 2% growth. Total sales increased by 2% as well and reached 39.9m bottles in fiscal year 2006/2007 compared to 39.2m bottles last year.
Racke said its subsidiaries in the Netherlands, the Czech Republic and Poland have "operated very profitably" and are behind its current international business success.
The German wine marketer added that its main focus will be placed on developing and enhancing the subsidiary's organisational structure, as well as looking at launching more international distribution brands.
Racke Group CEO Marcus Moller-Racke said: "Our focus is on wine brands with strong international appeal, such as Golden Kaan and Espíritu de Chile. These brands have proven to be right on target, particularly in our international markets where they, combined with various distribution brands, accounted for 55% of turnover and 44% of total sales (in bottles) during the past fiscal year."
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