Marlborough Wine Estates Group has reported its unaudited preliminary results for the year ending June 2023, showing an increase in sales revenue, gross profit, and cashflows.
The company's focus on premium branded wine and global distribution has driven another year of profitability, with a 69% increase in international sales of premium branded wine.
The company has a strong financial structure in place to support future growth and plans to expand its global distribution network.
Despite economic challenges and rising input costs, Marlborough Wine Estates remains positive about its future.
The New Zealand wine industry continues to be sought after globally, and the company's financial performance reflects its ongoing focus on premiumisation.
The company's 2023 vintage is in line with expectations, and it has invested in productivity initiatives to meet future demand.
The company's growth priorities for the next year include expanding its market share, international distributor network, and identifying growth opportunities through acquisition.
The company's chairman expressed confidence in its ability to succeed in a challenging business environment and thanked stakeholders for their support.
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