Romanian wine producer Cotnari sees profit down 7.5percent y/y in H1

Its turnover inched 2.4 percent in the first half to 52.02 million lei, from 50.80 million lei in the same period last year.

Cotnari sold 6.34 million bottles of wine in the first semester, up 1.8 percent versus the 6.23 million bottles in the same period last year. Serghiuta estimates the company will reach its target to sell 5 percent more units this year compared to 2008. 

Cotnari booked a profit of 590,000 euros in the first three months, 15.7 percent down from the first quarter of 2008, while its turnover slipped 4.2 percent to 6.7 million euros. 

The company's official recently said the wine maker revised estimates on the business this year and targets to maintain turnover at a similar value to 2008, respectively 30 million euros, although he initially foresaw a 10 percent increase.

Cotnari's main competitors on the local market are Vincon Vrancea, Murfatlar, Cramele Recas and Jidvei.