Vina Concha y Toro has posted a strong rise in operating profit for its third quarter.

The Chilean wine company said on Friday (26 October) that operating profit for the three months to the end of September increased by 67% on the corresponding quarter a year earlier, hitting CLP14.5bn (US$29.2m). Sales, meanwhile, were up by 25.5% to CLP81.04bn.

Net profit for the quarter leapt yet more markedly, by 96% to CLP11.55bn.

The company credited the increase in sales to a strong performance across all export markets, a good result from its UK subsidiary and higher sales in both Chile and Argentina.

For the first nine months of 2007, operating profit was up by 94% to CLP35.88bn, as sales increased by 27% to CLP208.47bn. Net profit followed the third-quarter climb, jumping by 107.5% to CLP26.12bn.

"Exports by value rose 49.3% in the quarter and 42.6% in the nine-month period," said company CEO Eduardo Guilisasti. "This outstanding achievement has been driven by a healthy increase in volume (40.5% in the quarter and 32.9% year-to-date), and by the increase in average price, mainly as a result of a better sales mix led by the premium category.