VINCOR’S 3RD-QUARTER RESULTS POST-HOSTILE TAKEOVER ATTEMPT

There was an overall profit slide for Canadian Vincor International, the 8th largest wine-producer, by 25% according to their 3rd quarter results. Says president and CEO Donald Triggs, “We delivered a solid quarter with 10% growth in a adjusted net income, despite a challenging business environment, as well as the distraction of defending an unsolicited takeover bid. Our performance for the third quarter was in line with our expectations and the overall health of our business is very strong.” In the 3rd quarter the United States revenue increased 4% in US currency from this time last year, mainly due to strong demand for Vincor’s core brands. Toasted Head grew by 23% and Hogue rose 8%.