Tonnellerie François Frères (TFF) generated growth in turnover in the 2013/14 financial year of 6.1% to €173.1m. At the same time, EBIT, at €36.1m improved year on year by 20.8%, while net profit was up by 14% to €24.1m . As a result of the improved trading figures, especially the higher profit, the company's liabilities were considerably reduced, from €26m in the previous year to €16m. A major portion of turnover growth was accounted for by higher barrel sales to producers of spirits. In addition, because of the high grape harvest in the USA and the consequent higher demand for wine barrels and wood products for wine maturation, TFF was able to compensate for harvest-driven declining turnover in France. For the current financial year, TFF expects further growth in revenues to a probable €185m. Apart from organic growth, the takeovers completed in May and July of the barrel manufacturers Maury et Fils and Berger et Fils contributed to improved turnover. The most recent turnover shown by Maury et Fils is quoted by TFF as €1m and by Berger et Fils at €3.5m. The cumulative purchase price for both of the latter companies totalled €9m.
Tonnellerie François Frères boost sales by 6.1 %
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