Foley Family Wines profits up on export jump to US

Tue, 16 Feb 2016

By Edwin Mitson Feb. 16 (BusinessDesk) - Foley Family Wines, the NZAX-listed company majority owned by US businessman Bill Foley, says profits rose sharply in the six months through December, mainly driven by a jump in exports to the United States. The company operates a range of brands including Grove Mill, Sanctuary and Te Kairanga. Net profit jumped to $1.6 million in the six months ended Dec. 31 from $400,000 a year earlier, the company said in a statement. Sales rose 12 percent to $17.4 million. Packaged export case sales were up 42...

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