Compania Vinicola de Norte de Espana today announced a huge drop in net profit for the first nine months of 2003. Net profit fell by 42.9% to €2.32m (US$2.72m), as sales dropped by 0.98% to €23.2m.


The company, whose main brands are Cune, Vina Real, Contino and Imperial, blamed the low figures on an increase in amortisation and personnel expenses in the period. The opening of its winery Laguardia in La Rioja region contributed to the rise in expenses.


Although the company said sales in October were better than the same month last year, it did not disclose financial details. The wine producer said it has put in place measures to increase sales in the Christmas period.


In 2002, for the year, sales reached €36m, while net profit totalled €8.53m.

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.

Company Profile – free sample

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.