Australian Vintage 'on track' as innovation agenda starts to bear fruit

Australian Vintage Limited has posted net sales revenue and net profits declines as it continues to realign around broader shifts in the global wine market.

This includes $123.9 million in total operating revenue, "largely unchanged" at 1.7 per cent down versus the year prior, with net debt of $110 million consistent with prior market guidance. Its net profits after tax took a $21.9 million hit.

At the centre of Australian Vintage’s growth roadmap is a strong innovation agenda.