Grupo Osborne has announced its results for 2011 which appear quite encouraging given the crisis in Spain. (If only George Osborne was so efficient!) Turnover was 207 million Euros which represents a drop of 16.5% due to the sale of the Solan de Cabras water and juice business, without which it would have grown by 6%. Moneys received were used to halve bank debt, and the Osborne family who still control the company bought back 15% of the shares from Solan de Cabras. Sherry and brandy account for 71% of turnover, of which 19% was export. Spirit sales in Spain showed a surprising rise of 12%. All in all great results for the times.
If only their Sherries were available in the UK!
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