Improved sales of higher margin premium products, combined with cost-saving initiatives and enhanced production efficiency, also impacted positively on profitability. Earnings before interest, taxes, amortization and unusual items (EBITA) rose from C$14.3m to C$15.7m for the year while gross margins as a percentage of sales rose from 36.5% to 38.3%.
CANADA: Andres Wines posts higher sales and profit
Canadian wine group, Andres Wines, reported sales for the 2002 fiscal year of C$139m, up 3.5% from last year's total of C$134.4m. Sales in the fourth quarter to the end of March 2002 were 9.3% higher at C$32.2m. The company attributed the strong sales growth to a good performance from its premium and ultra-premium wines, Peller Estates, Hillebrand Estates and Trius brands.
June 7, 2002