US: Willamette Valley Vineyards doubles H1 profits
- H1 net profits up 100% to US$817,718
- Net sales climb 19% to $6.65m
- Operating profits jump 46% to $1.37m
- Q2 profits up 137% to $521,125
Willamette also had a strong Q1
Willamette Valley Vineyards has continued its strong start to the year with a doubling of its first-half profits.
Net profits were up by 100% to US$817,718 in the six months to the end of June, the Oregon winery said yesterday (8 August). Net sales rose by 19% to $6.65m over the same period while operating profits climbed by 46% to $1.37m.
Second-quarter numbers were just as strong, with profits up 137% to $521,125 and sales growing by 26% to $3.6m. Q2 operating profits were up by 82% to $885,197.
Q2 benefited from an increase in retail sales of 13.1% and a rise in sales through distributors of 31.2%, Willamette said. No other reasons were given for the group's strong performance.
The results builds on the winery's first quarter showing, when net profits jumped by 59% and sales increased by 12%.
Looking ahead, Willamette founder & president, Jim Bernau, said: “The expansion of our Pinot Noir barrel cellar and enhanced wine and food experience will allow us to continue to grow our brand.”
The company is listed on the NASDAQ exchange.
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