INTERNATIONAL WINE & SPIRITS BOASTS “STRONG RESULTS” AT Q-2
UST, parent company to International Wine & Spirits Ltd., boasted “strong results from the wine operations” at their 2nd-quarter earnings today.
"We are encouraged by the improving fundamentals in our smokeless tobacco operations and continued growth in our wine business," said Vincent A. Gierer, Jr., UST chairman and chief executive officer.
Sales in the wine segment jumped 5.6% on a 7.3% increase in premium case sales for the quarter. Operating profit grew 18.3% from the same period last year and was favorably impacted by the Col Solare joint venture with Antinori.
For the first half of 2006 net sales increased 7.3% on a 7.8% boost in premium case sales, while operating profit jumped 19.2%.
"We are encouraged by the improving fundamentals in our smokeless tobacco operations and continued growth in our wine business," said Vincent A. Gierer, Jr., UST chairman and chief executive officer.
Sales in the wine segment jumped 5.6% on a 7.3% increase in premium case sales for the quarter. Operating profit grew 18.3% from the same period last year and was favorably impacted by the Col Solare joint venture with Antinori.
For the first half of 2006 net sales increased 7.3% on a 7.8% boost in premium case sales, while operating profit jumped 19.2%.
posted at 2:57 PM
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