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CyT Q2 results show “double-digit” uplift

Published:  31 July, 2020

Chilean producer Viña Concha y Toro has announced a 16.5% consolidated sales uplift in its Q2 results, posted today (31 July).

Against the backdrop of the pandemic, operating profits increased by 71%, with operating margin up 17.5%, and EBITDA rising 56%.

The company achieved double-digit growth rates for its “priority brand categories” in Brazil, the Nordics, Mexico, UK and other key European markets, with USA and Canada also performing well, as total export volumes rose by 3.7%.

Sales in Chile also grew in value and volume, despite what the company described as “a difficult scenario” because of on-trade closure and lockdown.

Sales in China, the South Americas generally and the Caribbean, however, dipped during the quarter.

Eduardo Guilisasti, CEO of CyT, praised the work of its teams across its global distribution offices.

“Undoubtedly, the measures taken to deal with the crisis and our teams’ efforts have been the fundamental pillars for this achievement,” he said.

“We have seen an impeccably executed harvest; the company’s production and support areas confronted the operational restrictions imposed by the pandemic and made possible an uninterrupted supply chain.

“On the commercial front, our market diversification and integrated distribution model we have consolidated in recent years has given us a clear advantage in responding to double-digit demand in some of our major markets.”

In 2017 CyT launched a new strategy rooted in greater focus, rationalisation of operations and efficiency, the results of which, said Guilisasti, had become patent.

Earlier this week the company announced a £1.8m TV push in the UK for Casillero del Diablo, its biggest brand.