GERMANY: Schloss Wachenheim toasts bumper year
German sparkling wine producer Sektkellerei Schloss Wachenheim has seen its full-year profits soar.
The company said yesterday (12 December) that net profit for its fiscal year to 30 June rose by 84% on the year, coming in at EUR13.8m (US$18.32m). Earnings per share were up to EUR1.30 from EUR0.87.
Net sales increased less impressively, to EUR259.7m from EUR253.8m, with Wachenheim crediting the rise to a strong performance in Europe.
The company's board said it will propose a hike in dividend payments to EUR0.16 from EUR0.12. The proposal will be made at the shareholder meeting, scheduled for February.
The 2006 German wine harvest was smaller than had been forecast because of heavy autumnal rain, writes Ben Cooper, but on a par with the average for the past five years, while the 2006 Austrian wines ...
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