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CANADA: Q1 sales and profit up at Andres Wines

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Canadian wine company, Andres Wines Ltd., posted sales for the first quarter of the 2004 fiscal year of C$35.8m, up 4.9% from C$34.1m in the corresponding quarter last year.

The company attributed the rise to growth from its premium and ultra-premium Peller Estates, Trius and Hillebrand Estates.

Net income rose by 10.4% to C$1.7m from C$1.5m in the first quarter last year, while earnings before interest, taxes and amortisation (EBITA) were 9.7% higher at C$4.3m.

"We are pleased to have produced such a strong start to fiscal 2004," said Andres' president and CEO, John Peller, "and are confident we will generate another year of strong performance as we continue to build the equity of our premium and ultra-premium brands by delivering the highest quality wines at the best possible value."


Sectors: Wine

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