Hungary's Tokaj Targets Russian Market
- 30 Jan 2013 8:00 AM
Tokaj Kereskedõház increased its pre-tax profit to Ft 65 million in 2012, up from Ft 60 million one year earlier, the state-owned wine maker and trader announced. This year’s pre-tax profit target is Ft 70-75 million, said CEO István Kiss
Revenues reached Ft 3.5 billion, falling short of the Ft 3.9 billion target.
The company buys about a third of all grapes produced in the sweet wine region, mostly under three-year contracts.
Shipments to Russia, currently 15-18% of total exports, could double this year to 1.6 million bottles, Kiss added.
This expansion can be met from present stocks. Tokaji is also planning to boost exports to the US and China.
Source: Hungary Around the Clock
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