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Sales rise but Argentina struggles in Q1 for Concha y Toro - results

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  • First-quarter sales increase by 5.1% on constant-currency basis
  • Reported sales in three months to the end of March up 2.4% to CHP124.4bn (US$197.7m)
  • Export sales from Chile come in flat, Argentina down both at home and abroad
  • Volumes fall as "focus on value growth" continues

Concha y Toro has recorded ongoing success from its renewed value focus, with first-quarter sales rising despite challenges affecting its Argentinean operations.

Fetzers 1000 Stories brand enjoyed a strong first quarter for Concha y Toro

Fetzer's 1000 Stories brand enjoyed a strong first quarter for Concha y Toro

The group's top-line was up in the three months to the end of March by just over 5% in organic terms, Concha said late yesterday. The rise came on the back of a near-3% decline in volumes, with the company flagging its "new commercial strategy" that puts a "higher focus on the premium category".

While export sales from Chile, which accounts for the bulk of the group's activity abroad, inched up by 1.4%, Argentina recorded a tough quarter. Sales fell 3.2% organically from Concha's operations in the country, due to a poor recent harvest coupled with the company's move to exit the lower-value segment.

The US, which comprises the Fetzer portfolio, did well, growing organic sales by over 12%. This was credited to the 1000 Stories range.

"In the first quarter, we recorded higher average prices in most of our key markets and an improvement in the sales mix, driven by the 7.8% growth in value of the premium category," said group CEO Eduardo Guilisasti. "We believe that we are on the right path to achieve our 2022 targets following the progress seen in our strategic programme that seeks sustained growth in value and in the profitability of our business."

Earlier this year, Concha reported a 1.2% rise in 2017 sales, with the fourth quarter delivering an improvement after a weak first nine months.

To read Concha y Toro's official Q1 results statement, click here.

Concha y Toro Performance Trends 2013-2017 - results data


Sectors: Company results, Wine

Companies: Concha y Toro

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