Australian vineyard manager Challenger Beston Wine Trust has recorded a  94% leap in profit, its fifth consecutive record year since its inception.

South Australia-based Challenger Beston buys and leases back vineyard properties from wineries to enable them to free capital for expansion elsewhere.

Managing director Christopher Atkins said the annual profit was A$10.4m (US$6.7m) based on A$85.5m (US$53.7m) of property acquisitions.