Foley Wines sees significant lift in operating earnings

Wed, 27 Feb 2019

By Rebecca Howard Feb. 27 (BusinessDesk) - Foley Wines reported a significant lift in operating earnings as sales continued to improve and the company is upbeat about the full year. The company said first-half net profit was $1.67 million more than five fold, while its operating earnings jumped 146 percent to $2.39 million. Profit in the prior period had been hit by $66 million of impairment of inventory while the six months to December saw a $30 million gain. Bottled sales revenue lifted 14 percent to $21.1 million. Export cases sh...

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