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Prior-year gain hampers H1 for Willamette Valley Vineyards

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  • Half-year net profits rise by 14.3% to US$824,469
  • Net sales in six months to end of June jump by 29.5% to $8.6m
  • Operating profits up a third to $1.3m
  • Q2 net profits slip by 6.6% to $510,231
  • Net sales in three months to end of June increase by 27.8% to $4.7m
  • Quarterly operating profits climb 11.2% to $844,844

Willamette Valley Vineyards has reported a healthy lift in half-year net profits despite dipping income in the second quarter.

A one-off gain last year slowed profits for Willamette Valley Vineyards

A one-off gain last year slowed profits for Willamette Valley Vineyards

The Oregon-based wine company said late yesterday that net profits in the first six months of 2015 were up by just over 14%. However, in the three months to the end of June, net profits fell by almost 7%.

The bottom line was bolstered by a strong first quarter, when net profits leapt by 80%. Sales in the second quarter continued the good work of Q1, however, resulting in a near-30% improvement in the half-year.

The firm flagged, however, that the net profit figure for both Q2 and the half-year cycled a one-off gain in the second quarter of 2014. Sales, meanwhile, were boosted by both an increase in direct sales and in sales through distributors.

Founder, Jim Bernau
"The second quarter has continued to be strong in sales and income from operations. We are excited to see revenue growth in all areas of the company as our brand position continues to grow."

Willamette Valley Vineyards said it is also kicking off a $250,000 share repurchase.

To read the company's official statement, click here.


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