Australian Vintage narrows focus as losses hit AU$66m

Australian Vintage has reported a statutory net loss after tax of A$66.4 million (£14.2M) for the year to June, including a AU$27 million inventory write-down, as it continues efforts to rebuild the business following its financial difficulties in 2023. The owner of McGuigan said improving cash generation, reducing stock levels and growth from Poco Vino had laid a stronger foundation for FY27.