FWL Full Year 2022 and Annual Report Published

Foley Wines Limited (FWL) has today published its full year financial results and Annual Report for the 12 months ended 30 June 2022.

Premiumisation strategy has been a critical success factor in a year of considerable disruption due to Covid-19, including impacts on hospitality, shipping and logistics, labour shortages and the risk of illness and isolation during harvest.

Case sales were down 7% to 525,000, however, bottled sales revenue was up 2.8% to $54,747,000 and net profit after tax was up 60.3% to $6,196,000.

Dividend of 4 cents per share fully imputed was declared.

Major investments include the new development in Martinborough at the Te Kairanga winery and the purchase of the Zebra Bendigo Vineyard in Central Otago.