by Ana Maria Barahona and Jürgen Mathäß
Concha y Toro reports that net income for the three months of 2007 to March 31st rose by 306% over 2006 to CLP5.8 billion (€8.2 million). Based on strong exports and a positive performance by the company’s
Argentinean subsidiary, sales for the quarter were up 36% to CLP54.35 billion (€76.7 million). "The result achieved by our export business reflects the strength of our products and the competitive positioning of our wine portfolio," noted Eduardo Guilisasti, Chief Executive Officer of the company. Domestically, however, sales were flat, with revenue up by only 0.9%.
Despite a 5% rise in sales last year, Concha y Toro reported a 4.4% drop in operating income in 2006 over 2005 to CLP24.3 billion on CLP215.8 billion sales.
