News Briefs for November 29, 2016
November 29, 2016•Chilean winemaker Concha y Toro enjoyed 7% revenue growth in the first nine months of 2016, but foreign exchange fluctuations hampered the group’s third-quarter progress, resulting in flat sales and a 15% drop in net income for three-month period ending September 30. Still, operating income grew 7% over the first three quarters of the year, owing to a strong first-half performance. In the U.S., the group’s Fetzer subsidiary in California saw Bonterra (+4%), Anthony’s Hill (+16%) and 1000 Stories Zinfandel (+407%) drive a 5.7% sales increase over the first three quarters. But the group’s South American export volume to the U.S. slipped 6.7% over the same period.
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