Hilltop Neszmély targets big revenue increase in 2006
Hungarian winemaker Hilltop Neszmély Rt targets revenue of Ft 3 billion in 2006, compared to Ft 2.5 billion in 2005, co-owner Imre Török said on Friday.
Hilltop Neszmély produces an annual 5 million-7 million bottles of wine, of which 90% is exported, mostly to the UK. The company accounts for 70% of all Hungarian wine exports to the UK. It also exports to Canada, Japan, the United States and Poland.
Hilltop Neszmély started planting its own vineyards on 500 hectares in 1998. This year, two-thirds of the company's wine will be made with these grapes, and as much as 80% could come from Hilltop Neszmély's own vineyard in 2007, Török said. The company has spent Ft 5.5 billion on its vineyards, including Ft 2 billion of state subsidies.
Hilltop Neszmély sold 800,000 bottles of wine in Hungary in 2005 and expects to sell 1 million bottles in 2006.
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