For the year to the end of March, Vincor reported an 87% rise in net income to C$26.86m on sales 28% higher at C$376.59m. The company said that that the increase in net income on a comparable basis was 39%. Operating income for the full year reached C$58.19m, a 43% increase from last year.
CANADA: Strong rise in net income at Vincor
Canadian wine group, Vincor International, has announced a rise in fourth quarter net profit, boosted by improved sales of higher quality wines. The company, which operates wineries in Canada and the western US, posted net income of C$3.3m ($2.2m) for the three months to the end of March, up by 43.5% from C$2.3m in the last quarter of the previous fiscal year. Sales rose by 44.4% from C$63m to C$91m.