Chile's Concha y Toro profit surges 165 pct on strong wine exports
SANTIAGO Aug 27 (Reuters) - Chile's Concha y Toro, one of the world's biggest wine producers, posted a 165 percent jump in net profit in April to June as exports surged and Chileans drank more of the grape-based alcoholic beverage at home.
Concha y Toro's net profit rose to 9.216 billion Chilean pesos ($15.6 million) in the second quarter, as sales jumped 29.6 percent versus a year earlier to 142.86 billion Chilean pesos ($242.48 million), the wine-maker said on Wednesday in a filing with the securities regulator.
A weaker currency, Chile's peso has depreciated 10.8 percent versus the dollar so far this year, has also helped boost exports.
The 130 year-old company, whose products reach consumers in 145 countries, saw a 48.5 percent jump in exports during the second quarter. Exports to Asia leapt 84 percent and increased by around 25 percent each to Europe, the U.S. and Canada.
(1 US dollar = 589.1500 Chilean peso) (Reporting by Anthony Esposito; Editing by Grant McCool)
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