A strong start: Above annual forecasts

A strong performance born of a favorable base effect and an important acquisition

Business has grown by + 17,5% year on year, a figure adjusted for:
- a currency effect of + 7,1%
- and the + 21,2%, rise in turnover that is mainly the result of the acquisition of Radoux.

The wine market: + 49,2%

With the addition of Radoux, the consolidated turnover has risen susbstantially in the first quarter. Sales are up sharply on 2011, a year weighed down by the late american harvest.
On all of the markets, figures are up, above the full year forecasts.

The whiskey market : + 35,9%

This is a market living up to expectations and to the very ambitious targets that had been set for the year. Our strong performance here is expected to continue over the next few months.

Growth targets for 2012/2013 : > 30%

The negotiations that are currently underway with STAVIN's shareholders for the purchase of the remaining 50% of the company are expected to reach a conclusion over the course of the second quarter.
Despite what is expected to be a small harvest in France this year, TFF remains confident that it will meet its ambitious target of an annual turnover for the period, by exceeding the 150 million euro mark, while maintaining an operating profitability of 20%.