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Concha y Toro posts strong third-quarter figures

Published:  19 November, 2015

Sales at leading Chilean wine producer Concha y Toro hit £156.7 million for the third quarter, according to the latest report from the company.

The figure represents a 14.7% uplift on the third quarter in 2014.

Concha y Toro is an export-led business, and sales in export markets increased 16.0% in value to £104.7 million. Export volumes were up 9.7%.

Sales of the company's international subsidiaries also reported substantial gains. Trivento in Argentina rose 28.3% to £6.75 million, while Fetzer Vineyards in the US 21.3% to £15.5 million.

Export sales benefited greatly from exchange rate fluctuations in the quarter, with the Chilean peso depreciating 17.3 % against the US dollar and 8.9% against sterling.

Domestic sales only account for some 11% of Concha y Toro's turnover. Sales in Chile grew 6.4% to £17.3 million in the quarter.

For the year to date, Concha y Toro reports sales growth of 9.5% to £408 million for the nine months to September 30.

Export sales from Chile, Argentina and the US increased 8.6% during the period.

The volatility of the Asian market is reflected in the fact that while volumes in the region for the quarter were up 50%, volumes for the nine months to September 30 were only up 7.9%.

Others regions that registered volume growth in the quarter were Canada (11.0%), Central America & Caribbean (7.8%), the US (7.7%) and Europe (7.6%).

Africa and South America both registered volume decreases of 7.5% and 4.8%, respectively for the quarter. However, both are net positive for the nine-month period, up 16.3% and 4.7% respectively.

Eduardo Guilisasti, Concha y Toro's CEO, said: "The third quarter results are positive and show an important recovery in sales and profits, boosted by the growth in the premium categories, highlighting the sustained growth of Casillero del Diablo and the performance of the Argentinean and US subsidiaries."

Viña Concha y Toro was founded in 1883.

It listed on the Santiago Stock Exchange in 1933, and in 1994 became the first winery in the world to be listed on the New York Stock Exchange.

It owns some 9,191 ha of vineyards in Chile, 1,142 ha in Argentina and 468 ha in the US.