KWV shows good results
2006-09-28
KWV has ended its financial year for 2006 in a strong position, showing an increase in sales and gross profit.
The company has been spreading its risk and adapting its operations successfully in order to navigate the competitive waters of the global liquor industry over the past year.
Results show an increase in sales turnover of 8,7% to R1 186 million and a healthy increase of 17,6% in gross profit.
With a global spread in trading, KWV’s operations showed most impressive growth in the local market, where spirits were performing especially well.
Sales volume of wines and spirits in South Africa increased by 18,4% - improving on a growth figure of 13,6% during the previous year.
This growth curve follows the successful launch of the company’s masterbranded products onto the local market during the past year
In Japan, the company increased its market share to 45% of all South African imports – despite a declining market. Other markets with significant growth include Russia (+34%), Belgium (+18%) and Scandinavia (+15,6%).
Operating discipline, especially in its , KWV South Africa, supported a leveraged increase of 42,4% in operating profit.
Adjusted headline earnings increased by 33,4% from R105,4 million to R140,7 million. Income from associated companies (after minority interest) increased by 13% from R88 million to R100m.
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