SPAIN: Sales up 7.4% at Torres
At Alimentaria, Spain's biggest food and wine trade show, Penedes based wine and brandy producer, Miguel Torres has announced 2001 sales of €125.66m.
The rises of 7.4% on 2000 was lower than expected due to slowdown in growth in exports, especially in Q4, following the terrorist attacks in New York on 11th September and a slight fall in demand in Spain.
Exports accounted for €52.45m of the total, while Spanish domestic sales reached €73.21m.
The family-owned company continues to invest over 90% of its profits in the expansion and improvement of its wineries in Spain, California and Chile. Last year over €13.45m was invested and the same policy is expected to continue this year.
The UK is the biggest market for the group's wines, whereas Mexico is the biggest importer of its brandies.
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