Australian Vintage’s full-year profit forecast to drop 10%

Australian Vintage’s full-year profit forecast to drop 10%

McGuigan wines owner Australian Vintage expects its full year profit to drop about 10 per cent because the winemaker has not produced as many grapes as expected. The company says grape yields from its vineyards have been disappointing. “Yields from owned vineyards are below expectations due to the effects of the previous year’s frost on our own vineyards,” Australian Vintage said today. The winemaker (AVG) also processed fewer tonnes of grapes for other customers.

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