Winemaker Australian Vintage’s net profit up slightly to $7.2m

Winemaker Australian Vintage’s net profit up slightly to $7.2m

AUSTRALIAN Vintage has recorded a full-year net profit of $7.2 million. This is up marginally from $7.1 million last year. Overall, the company today posted a net loss of $2 million, following a vineyard lease termination payment of $9.2 million. Australian Vintage chief executive Neil McGuigan said over the past five years sales of the company’s three key brands — McGuigan, Tempus Two and Nepenthe — had almost doubled.

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