Foley Family full-year operating profit more than doubles, as bottled, bulk wine sales rise

Mon, 31 Aug 2015

By Joshua Riddiford Aug. 31 (BusinessDesk) - Foley Family Wines, which is controlled by American billionaire Bill Foley, said full-year operating earnings more than doubled on increased sales of bottled wine in Australia and New Zealand, and a "modest" profit from a growing pool of bulk wine. Operating earnings before revaluations and tax rose to $3.5 million in the 12 months ended June 30, from $1.2 million a year earlier, the Blenheim-based company said in a statement. Sales jumped 20 percent to $37.2 million, outpacing a 12 percent gai...

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