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Net income up 32.2% for Concha y Toro Q2

Published:  30 August, 2016

Chilean wine producer Concha y Toro has reported healthy uplift in sales and profits in its 2016 Q2 results.

For the quarter to June 30, the company's net income increased 32.2% to Ch$13,248 million.

This was mainly due to the growth in volume of all the wine business areas, a significant growth in the premium category, and a net exchange rate positive effect.

Flagship brand Casillero del Diablo was the top performer, with presence in 147 countries.

Sales for the brand increased 12% and 8% in terms of value and volume.

The UK contributed a 4.8% volume growth, with strong sales of core brands Casillero del Diablo, up 17%, Trivento Reserve up 35% and Cono Sur Bicicleta up 39%.

However, Asian markets saw the most growth, with an increase of 18% in volume, driven by increases in China (+64%), Japan (+12%) and Australia (+114%).

Total sales increased by 9.9% to Ch$173,292 million in the quarter.

Export markets from Chile increased 10.5% in value totalling Ch$116,463 million, driven by a 5.5% of higher commercialised volumes.

Sales of Conon Sur in the UK were boosted thanks to its continued partnership with the Tour de France.

After pairing with the sporting event back in 2014, the company announced last year that the sponsorship had been extended for a further three years.

In May, the company has released a limited edition bottle for this year's competition featuring artwork from Eliza Southwood.

Concha y Toro is the principal wine producer and exporter of Chile.