Belvédère SA announced unaudited consolidated sales results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported sales of EUR 120.3 million against EUR 140.0 million a year ago.

For the nine months, the company reported sales of EUR 356.7 million against EUR 394.0 million a year ago. Net sales decreased due to the decrease in export sales and the strategy of focusing on high-margin activities, which led to the end of some contracts in France.

The Group expects its strategy of focusing on high-margin activities to continue affecting its level of activity over the fourth quarter of 2014, but it is maintaining its twofold target: positive operating profit from continuing operations in 2014, excluding provisions for the non-recurring impairment on inventories and trade receivables, and operational profitability in line with the wines and spirits sector's norms in the medium term.