The listed South African winery Winecorp increased its revenue by a 22% to R49.6m for the six months to 31 January 2003, compared with the R40.7m for same period in 2002.
This was attributed largely to the group’s increase in capacity by at least two thirds following the completion of a R5m expansion plan started last January, as well as a shift in wine sales mix from bulk to bottled product.
This resulted in a 39% increase in export sales and greater profitability the company announced yesterday.
However, the strengthening Rand resulted in a R2.6m loss of foreign exchange compared to a R1.6m gain the previous year.
Headline earnings for the six months under review, were down by more than half to a fraction over R2 million from over R4,4 million for the same period in 2002.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData