Falling results for Sabate Diosis
announced that sales in the nine months to 30 September 2002
amounted to €152.9 million compared with€171.7 million for the same
period last year.
French oak barrel and wine closures manufacturer, Sabate Diosis, announced that sales in the nine months to 30 September 2002 amounted to €152.9 million compared with€171.7 million for the same period last year.
The company said that the 10.4 per cent sales decline in the third quarter when compared to the 13.5 per cent decline to 30 June confirms that, overall, the performance was proving more resilient to the difficulties being experienced by the wine market as a whole. The company has already predicted that sales for the period would fall in line with the figures it has just released.
The Barrels division, in what is traditionally a highly seasonal quarter, succeded in improving sales trends with a drop of 5.8 per cent after a decrease of 11.5 per cent in the first six months. Against a backdrop marked by a general slowdown in capital expenditure by wine producers and unsettled weather conditions, the company said that this encouraging trend stems from successes in the European markets targeted by the group.
At €74.4 million, the sales of the Closures division, which supplies volume markets, reflect mainly the difficult general conditions. For the 2002 complete financial year Sabate Diosos still expects full-year sales of €200 million to €210 million, with contributions of €91 million to €96 million from the Closures division, €101 million to €106 millionfrom the Barrels division, and €8 million from the Floors division.
Measures to extend the Altec product range started to be implemented in October in accordance with the company's plans: presentation of new products to major accounts and canvassing of large retailers. The company also said that the Closures division was strengthened in October by the appointment of a newsales director.
