Foley Wines reports growth, expects higher 2025 yield

Foley Wines has reported growth in case sales, sales revenue, and operating earnings for the half year.

Case sales increased by 21%, while bottled sales revenue rose by 12.6%.

Operating eanings were up 61.3%.

However, the company reported a 35.1% decrease in profit after tax.

This was attributed to higher cost of goods from the smaller 2024 vintage and investment in sales support.

Foley Wines expects a higher yield from the 2025 harvest in the Marlborough and Martinborough regions, but slightly lower yield in Central Otago.

The market price for sauvignon blanc grapes is anticipated to be about 15% lower than the 2024 vintage.