Chilean winemaker Concha y Toro 2014 profit jumps 52 pct
SANTIAGO, March 25 (Reuters) - Chile's Concha y Toro, one of the world's biggest wine brands, continued its rapid growth in 2014, with core earnings rising over 50 percent as both exports and prices increased.
Full-year earnings before interest, taxes, depreciation and amortization were 84 billion pesos ($136 million) on sales of 583 billion, the company reported late Tuesday. Both figures were slightly above Thomson Reuters forecasts.
Concha y Toro, the owner of the Casillero del Diablo label, U.S. brand Fetzer Vineyards, and a sponsor of soccer club Manchester United, has aggressively marketed its wines abroad, and exports total around 70 percent of its production.
It has been a net beneficiary of recent currency fluctuations, with the Chilean peso weakening some 13 percent against the dollar last year.
At the same time, the average price for a liter of wine in the external market rose 1.9 percent to $3.47 in 2014, the company said.
Its shares opened on Wednesday morning up 0.5 percent to 1,273 pesos apiece, valuing the company at around $1.5 billion. ($1 = 619.6000 pesos) (Reporting by Rosalba O'Brien; Editing by Jeffrey Benkoe)
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