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Concha y Toro profits take a beating in Q1 2017 - results

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  • First quarter sales slip by 3.5% to CLP127.5bn (US$190.9m)
  • Net profits in three months to end of March nosedive by 48% to CLP3.8bn
  • Operating profits also tumble, by 24% to CLP12.8bn
  • Volumes rise by 4.6%, exports climb 5.9%
  • Concha y Toro Q1 2017 by region - results data

Viña Concha y Toro has seen its profits plunge in the first quarter, as a "challenging external scenario" resulted in a fall in sales.

Concha y Toro has followed last years 13% jump in Q1 sales with a 3.5% fall in Q1 2017

Concha y Toro has followed last year's 13% jump in Q1 sales with a 3.5% fall in Q1 2017

Earlier this week, the Chilean wine company posted a 48% drop in net profits for the first three months of 2017. The top-line registered a 3.5% fall on the corresponding period a year ago, when sales increased by over 13.5%.

Concha blamed the sales performance on currency depreciation in its export markets. The company credits the UK, which has seen Sterling slide since the EU referendum in June, with generating 22% of total sales. Stripping out currency effects, and sales on a constant currency basis were up by 8.4%.

Concha y Toro Q1 2017 by region - results data

In volume terms, sales were up in the quarter by 4.6%.

Last month, the company reported its full-year results for 2016, with sales increasing in the year by 3.5% and net profits posting a 3.6% decrease.

Concha y Toro 2012-2016 - Click here for five-year results data


Sectors: Company results, Wine

Companies: Concha y Toro

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