VSPT Wine Group

VSPT Wine Group sales up 11%

09 August, 2021

VSPT Wine Group has seen an 11% increase in sales for Q2 to maintain its number one spot in the Chilean market.

Despite a low exchange rate, the increase in sales revenue was mainly driven by a 7% growth in volume across the business with international sales up 6% and domestic performance up 5%.

Better prices in the international and domestic Chilean markets can be attributed to a better sales mix and the wine group’s gross margin showed an increase of 7%, from US$ 31bn to US$ 33bn.

As was the case in Q1, these factors enabled VSPT to offset the negative external variables that arose during the first half year, such as the high cost of wine and the exchange rate.

Net profits decreased 29% due to non-operational reasons, such as asset revaluation during 2020.

In the UK, VSPT has strengthened its commercial presence through various activities that seek to increase awareness of the leading brands in the group among the British public.

Among those is Viña Leyda, which recently launched Leyda Selected Vineyards Garuma Sauvignon Blanc 2020 and Leyda Reserva Pinot Noir 2020 in the English market in a joint action with Tesco.

Meanwhile Graffigna, the first winery in San Juan, Argentina, reached 11% growth in sales during the second quarter. This brand is now implementing a new look which will be available this September in Sainsbury's.

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