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CHILE: Wine producers announce six-monthly results

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Three of Chile's major wine producers have announced positive figures for trading in the first half of 2002, although one company revealed major losses.

Chile's largest producer Viña Concha y Toro, which is owned by the Giulisasti family, registered profits of US$11.7m during the first half of the year. This represents a 12.9% increase compared to 2001. Wine sales rose 5.4% over the same period to US$78.3m.

Bodegas y Viñedos Santa Emiliana also increased its profits by 5.5% in the six months to July. The wine producer registered profits of US$3.5m compared to US$3.3m over the same period of 2001.

Meanwhile, Viña Undurraga saw its profits rise by a very healthy 10.3% between the first six months of 2001 and of 2002. The wine producer recorded profits of US$733,900, aided by a reduction in non-operational losses, from US$223,100 to US$130,400.

The impressive figures recorded elsewhere in the wine industry is a source for further gloom at Empresas Santa Carolina. The winemaker saw profits contract by a disastrous 65.5% to US$1.6m. This figure compares with the US$4.8m the company registered in the first six months of 2001.


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