Marlborough Wine Estates Group Limited (NZX: MWE) has reported its unaudited preliminary results for the year ending 30 June 2022 (FY22), with a return to improved profitability and a significant expansion for its premium branded wines.
Despite considerable disruption in all key markets, MWE was able to expand its international distribution agreements with partners in the US, UK and Ireland, and also secured expanded premium branded wine distribution with Countdown in the domestic market.
Revenue increased by 18%, with a 10% increase in branded wine sales volume and a 16% increase in branded wine revenue.
Gross profit increase from $1.28m to $2.91m, representing a 127% YOY growth, and net profit after tax of $328,012 was reported.
MWE’s growth plans for the next financial year include further premiumisation of its branded wines, expansion of market share and expansion of the international distributor network.
They have also received a large number of accolades and top reviews during FY22.See more