Willamette Valley Vineyards' Q1 profits, sales leap
- Q1 net profits jump 80% to US$314,238
- Net sales in three months to end of March rise 32% to $3.9m
- Gross profit margins increase by one percentage point to 58.9%
Willamette Valley Vineyards has posted a surge in first-quarter profits as a good harvest helped boost sales.
Net profits in the first three months of the year jumped by 80% to US$314,238, the Oregon wine producer said yesterday. Net sales increased by 32% to $3.9m in the same period.
Willamette's founder & president, Jim Bernau, said: "We are pleasantly surprised to see how many new customers are now visiting our remodeled tasting room. This, combined with a bountiful harvest and a strong distributor sell-in for Oregon Wine Month resulted in a strong Q1."
The results marked an improvement for Willamette after it reported a tough first quarter last year.
To read the company's full results, click here.
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