Despite some of the most challenging currency-related conditions ever faced by Australian wine companies, Australian Vintage has increased its profit in the twelve months to the end of June. On the back of a sales increase of 2% (to AUD 228m) and despite the unsustainable strength of the Australian dollar, the company has declared a net profit increase of 8% to AUD 7.1m Ð attributable to AUD 3.6m of ‘significant items’ Ð while it registered a 3.5% increase in operating profit to AUD 23.4m.According to CEO Neil McGuigan, ‘This result demonstrates how we have made our business more robust and capable of better withstanding the global pressures.’
