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.