-
Net profits last year jump by 29.9% to CHP43.65bn (US$71.08m)
-
Sales in 12 months of 2014 rise by 22.6% to CHP583.31bn
-
Operating profits increase by 52.2% to CHP84.3bn
Concha y Toro has described 2014 as a "banner year" as sales and profits both reported healthy growth.
Concha y Toro saw its sales and profits shine in 2014
Net profits increased by 29.9% to CHP43.65bn (US$71.08m) in calendar 2014, the Chilean wine maker said today. Sales in the 12 months rose by 22.6% to CHP583.31bn while operating profits jumped by 52.2% to CHP84.3bn.
Q4 numbers were just as strong, with net profits up by 24.2% to CHP13.97bn, and sales rising by 27.5% to 177.7bn. Operating profits jumped by 42.4% to CHP27.78bn in the final quarter.
Concha y Toro's exports, which account for two-thirds of its business, drove performance with export sales up 29% to CHP396.2bn. Volumes were up 10% while a favourable currency exchange rate served as a tailwind.
The company Fetzer's unit in the US increased total sales by 11% to CHP63bn.
Meanwhile, domestic sales climbed by 4% to CHP60bn and volumes were up by 6%.
Concha y Toro this year has already expand its marketing presence, particularly in Europe, where its Cono Sur brand has been named the "official" wine of cycling's Tour de France until 2017. The group also extended its sponsorship of the UK's Aviva Premiership rugby tournament through its Argentinean wine brand, Trivento.
Concha y Toro's share price on the New York Stock Exhange was up less than 1% as of 1129 ET.
To read the company's official results, click here.
Sectors: Company results, Wine
Companies: Concha y Toro
