, , , , , , , , , ,

WINE company Australian Vintage increased its half year profit but said the 2014 crop had been impacted by the weather.

The company, which owns McGuigan Wines, Tempus Two and Passion Pop, said the 2014 vintage had been impacted by frost and then a hot summer, and it remained too early to predict how much it will yield.

“The early signs are that crop levels may be down with quality very good,” the company said in a statement.

Australian Vintage made a profit of $4 million in the first half of the 2013/14 financial year, up from $3.3 million a year earlier.

Total sales were lower in the period due to weaker bulk sales to North America, the UK and Europe.

But local sales, particularly of the McGuigan brand, were stronger.

Source: AAP